The market is normally bullish around the 4th holiday. I don’t expect this year to be any different. It is similar to the Christmas rally. Lower volume and less resistance to move higher. Still packing to move and have not traded much the last few weeks. I will probably take a couple trades this week.
The market was down last week and trading in a bit of a range. There is a bit of a rotation going on as the NHNL is positive, but the Capitalized NHNL is negative. The AI trade has pulled back a bit.
The bearish divergence in the rolling 52 week NHNL is still there. I am watching that closely for signs of a breakdown or the divergence is cancelled.
The daily trend is neutral, but the weekly trend is still up and needs to be respected.
