The market is grinding higher, but the internals are sending mixed signals.
While smart money remains steady—reducing the risk of a sharp selloff—rising retail confidence, gap-heavy price action, and divergences point toward a near-term consolidation rather than continued straight-line upside.
1. $S&P 500(.SPX)$
Dumb money confidence is strengthening while the SP500 continues to move higher, leaving behind gaps and indecisive candles.
The good news is that smart money remains stable; so a major decline (-5%) is not expected, though a healthy consolidation (-1% -2%) is possible.
2. $iShares Expanded Tech-Software Sector ETF(IGV)$
The Software ETF showed resilience this week, with a 1.7% gain.
The bounce from the 50DMA and a developing Stochastic crossover, looks promising for bullish continuation. $90 is the key resistance to watch.
3. $iShares Russell 2000 ETF(IWM)$
Indecisive price action, combined with a bearish RSI divergence and three open gaps, suggests a decline is possible this week.
The $270 level will likely act as a magnet, followed potentially by $265. A deeper correction beyond those levels is not currently expected.
😍 Been eyeing Tiger merch but short on Tiger Coins? Now's your chance.
🎁 We’ve selected 4 high-demand items across practial, lifestyle, and learning, now with a lower redemption threshold!
Hot Merch Returns · Up to 43% Off
Comments