This week’s update is going to be a short one. Quite frankly, not a lot has changed technically for the major stock market indices.
That said, we do want to share a few charts and highlight (and reiterate) our thoughts.
The three charts below are of the S&P 500 Index, the Nasdaq 100 futures, and the Russell 2000. They all remain in uptrends with no sign of a distribution top formation.
The Nasdaq 100 does have a momentum divergence right now but this can be worked off by going through periods of pause before advancing. This would be similar to what we saw in 2021.
Twitter: @GuyCerundolo
The author or his firm have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
