The good news for the bulls is the new daily buy signals on the Big 3 indicator. For the first time in over a year, the SPX, QQQ, XLK, SMH, and other names have the Big 3 indicator turning bullish. This ultimately means that the trend has shifted in favor of the bulls.
The bad, though, is slightly outweighing the good. The S&P 500 is bullish, with a squeeze on the daily chart and trading near the 21 exponential moving average (EMA). The problem is the lower time frames, shown on the Big 3 Heat Map, are printing Big 3 sell signals. The S&P 500 won’t get that explosive rally to the upside if the lower charts are bearish.
In the video above, we’ll review the DXY and HYG and what the current market conditions mean heading into the shortened week ahead.
Stay Focused!