Stock Markets Analysis and Opinion
S&P 500, Nasdaq Rally Likely to Continue
2023.06.13 03:27
Suffice it to say, the and are well on their way to shaping the right-hand side of bases coming off 2021 highs.
There is still a chance these bases can fail, but until I next post, I expect these rallies to continue on weekly timeframes.
SPX Weekly Chart
COMPQ Weekly Chart
It remains a little more sketchy for the ($IWM), but the convergence of moving averages as support on the weekly time frame should provide the necessary support to help it advance above $195.
Maybe by my return in July, it will have done so?
IWM Weekly Chart
See you in July (if not before).
