The video in this report is only accessible to members
The video in this report is only accessible to members

Key Takeaways

  • Tuesday’s minor range-breakout is a positive for SPX and DJIA while NASDAQ has some catching up to do 2021 lows expected the last two weeks before a bottom
  • A number of various sub-sectors look to be trying to bottom out and push higher, namely Biotechnology, Airlines and also Machinery within Industrials
  • Polygon looks attractive within the Crypto- space as its technical surge happened after an important cash infusion of $450mm by Sequoia Capital India and Tiger Global

“Turnaround Tuesday” became more like “Turn Higher Tuesday” as both SPX and DJIA broke out of near-term multi-day ranges to push higher.  Breadth was encouraging and five main S&P Sectors out of 11 rose more than 1% on the day.  Overall, higher prices look likely to 4620 or above to 4650 in the days to come, and it looks right to stay long, using dips as chances to average into technical longs.  Wave structure seems to suggest an ongoing upward sloping pattern which should exceed last week’s highs before any real resistance.  Bottom line, trends remain short-term positive and higher prices look likely into mid-month.

The video in this report is only accessible to members

Various Sub-sectors look to be trying to bottom out 

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