Technical Analysis for .SPX
Hello everyone！Today i want to share some technical analysis with you!
$S&P 500(.SPX)$ thoughts & lesson: More stocks made new lows today versus new highs. Breadth stand-alone is a weak measure of market direction— however, when you pair that with key moving averages the data becomes a magnitude more useful.
I know that at a point with negative breadth and the index closing below 5300 it becomes a scenario that heavily points towards a risk off environment.
Then there is the backdrop that little good will come to equities following rate cuts— there is a good quote about history rhyming out there…. somehow I don’t feel this is a consensus thought.
Being bullish into rate cuts I think will be like swimming against the current / overstaying your welcome type of moment.
What changes my mind? Small cap participation with $ARK Innovation ETF(ARKK)$ above 52 and $iShares Russell 2000 ETF(IWM)$ 212. This for me puts bears into hibernation.
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