Tough to fade SPX when NVDA still trending up sharply

Short-term trends remain bullish, and daily momentum gauges have hit overbought levels while DeMark exhaustion could materialize using multiple methods within the next few days for SPY and QQQ. Overall, it’s bullish to see the degree of broad-based expansion in sector participation following a push to new all-time highs for SPX and QQQ, but indices are now growing stretched, and there stands a chance of some expiration-related s...

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