Precious metals break out along with Ethereum Array ( [cookie] => 05a680-5a43c3-e1b1cc-f45b35-9d736a [current_usage] => 2 [max_usage] => 2 [current_usage_crypto] => 2 [max_usage_crypto] => 2 [lock] => 1 [message] => [error] => [active_member] => 0 [subscriber] => 0 [role] => [visitor_id] => 199467 [user_id] => [reason] => [method] => ) 1 and can accesss
The minor stalling out in US Equity indices after four straight days of gains doesn’t equate to any sort of market top, technically speaking, and near-term patterns remain bullish for the prospect of further gains back above 4133 in the days ahead.
As mentioned previously, the entire bearish argument for investors doubting Technology’s rally depends on SPX holding under 4200 and QQQ remaining under $326. Any move over these levels would arguably result in immediate sharp upside follow-through in the weeks ahead and would likely postpone any larger consolidation until the seasonally weak month of May.
Cycle composite projections for both NYSE Composite along with $AAPL show the possibility of a peak between 4/11 - 4/14. My relative chart of $QQQ vs. $SPY also shows the possibility of an upcoming exhaustion signal, which could occur on further outperformance by QQQ vs. SPY between now and early next week. At present, it’s still right to favor QQQ outperformance, and I do not feel that the recent weakness is all that important, and expect a return back to new weekly highs.


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