.SPX: What' Going on Next?

$S&P 500(.SPX)$ thoughts: The broader market indices continue to trade at or near record all time highs, meanwhile the risk-on participation remains lacking for another week. For a melt-up scenario to develop I believe the risk on categories must participate. Like it or not, ARKK in my view remains the modern market gauge for risk on equities. If you don't like that then the traditional Russell 2000 tells the same story.

Risk on participation is absent.

Until $ARK Innovation ETF(ARKK)$ trades above 52, and IWM above 212 (RUT above 2175) I remain neutral on my broader market thoughts and in no rush to hop aboard the melt-up train.

If a melt-up scenario is truly underway, I think it is probable that the risk on categories will send the signal.

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Macro Trend

Monetary policy, various types of price indices... Here is everything about the macro economy!

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Comments

kooko
05-27
kooko
Wow, your analysis is spot on!

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If a melt-up scenario is truly underway, I think it is probable that the risk on categories will send the signal.<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/83caf8a3378ef91a4fad5ab4e0a80beb\" tg-width=\"680\" tg-height=\"426\">ImageFollow me to learn more about analysis!!https://x.com/tomthetrader1/status/1794744607089275000</body></html>","htmlText":"<html><head></head><body> <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> thoughts: The broader market indices continue to trade at or near record all time highs, meanwhile the risk-on participation remains lacking for another week. For a melt-up scenario to develop I believe the risk on categories must participate. Like it or not, ARKK in my view remains the modern market gauge for risk on equities. If you don't like that then the traditional Russell 2000 tells the same story. 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