Market Commentary – Equities Bullish, SPX Target = 3035
The following commentary discusses the state of the minor and intermediate trends in the major US indices. It highlights a close above minor resistance in the S&P 500 Index (SPX) that may lead to continued upward momentum, and the recent new closing highs in both the NASDAQ 100 (NDX) and NASDAQ Composite (COMPQ) indexes. The report depicts an overall bullish composure in equities, as a result of a positive signal that occurred in SPX in May, which signaled significantly higher levels.
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