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S&P 500, Nasdaq Rally Likely to Continue

Published 13/06/2023, 08:02
US500
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US2000
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IXIC
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Suffice it to say, the S&P 500 and Nasdaq 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 Russell 2000 ($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).

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