SHORT TERM not intraday
Time to watch the ZWEIG BREADTH THRUST indicator again.
We have a few more days, so you have to wait.
If the Zweig indicator (top panel) can move from 41 to 60 in TEN DAYS, the bulls are off to the races.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
..and Solars. Anything energy/commodity or mining.
But note again the importance of drilldown into constituents of these Sector ETFs.. large 5day perf difference btw two big biotech funds, XBI and IBB; likewise btw XOP and OIH, two big oil producer funds.
--Esp during fast moving markets, when the fund's internal winners and losers show more starkly...
ES hourly chart update: Hourly bar closed inside of major resistance.
Bears slowly getting squeezed by this bull train to 1993-1998 target it seems. Pretty amazing
SPX at EMA 377, which formed strong resistance in August and September. Most likely will be broken in October. Next important resistance is weekly MA 75 which was resistance up September 17th (SPX 2020 back then, now at 2023).
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uempel wrote:SPX at EMA 377, which formed strong resistance in August and September. Most likely will be broken in October. Next important resistance is weekly MA 75 which was resistance up September 17th (SPX 2020 back then, now at 2023).