Yes, the S&P 500 fell 2.6% last week, but this was after the largest 9-week win streak return ever (19.0%).
Just know that the 10 other times stocks were up 9 weeks in a row they were higher a month later 9 times.
This means the next three weeks should potentially see continued strength.
This is extremely rare price action in the Nasdaq 100.
$NDX has now gapped down over 1% at open on two consecutive days while not in a technical bear market.
Only 16th such case ever. Two months later, the index was higher in 13 of 15 cases, with a median gain of 8.6%. $QQQ
June is here! June is the best month to keep buying the dips.
Why, you ask? Since 1950, the S&P 500 has never peaked in June.
Every pullback eventually gave way to higher prices later in the year.
$SPX - Yesterday it closed above the resistance at 7460 but today it close below it. That is a potential setup for a pullback. If the war in Iran resumes this weekend as some signs are pointing to, we may have a deep pullback, like a decline to the monthly pivot at 6968.
Current strength in the Nasdaq 100 is exceptionally rare. And bullish.
For first time in 17 years, $NDX is positive for 6 consecutive weeks, gaining 25%+ during this streak.
Momentum begets momentum. NDX was positive 100% of time 1 week to 3 months later. Sea of green! $QQQ