Despite $QQQ having broken June and July lows, we saw healthy gains in sectors like Healthcare, Financials, Utilities and Industrials ($XLI shown here)
Many parts of Aero/Defense starting to rebound along w/ many Transportation names w DJT minor breakout back in mid-July
This broad-based recovery in many sectors is actually quite healthy during a time when many are starting to turn more bearish ahead of Hyperscaler earnings. hmm
@IBDinvestors@marketsurge #IBDPartner
SPX is range-bounded. If measured by Wyckoff method (left), price is moving above the mid-range. Have not seen major event. Bar spread is contracting. The other chart shows 2 possible wave counts: a triangle type of formation or A-B-C count. Next move will show the direction.
BTCUSD is getting bullish. If it is closed positive this week, we got three positive weeks in a row. Current daily chart can be counted as 1-2-3-4-5 sequence or 1-2-1-2-3, depending how high current wave could go. Weekly trend is somewhat bearish but initially exhausted.
I view the current SPX action as waiting rather than indecision. With the Fed decision and other key events next week, price may continue to bounce around current levels.
🚨 HOURS AFTER THREATENING IRAN… TRUMP SUDDENLY CHANGES COURSE
🇺🇸🇮🇷 Trump says all planned strikes for today have been cancelled as negotiations reportedly move toward a finalized agreement.
The same region that was preparing for another night of war…
is now watching emergency diplomacy unfold in real time. ⚠️
One signature could stop the escalation. One mistake could restart everything. 🔥
HOOD is at a crossroads, with a coiling pattern, an inside bar, and seven consecutive narrow-range bars. This indecision is accompanied by drying-up volume. I'm closely watching its daily price action within the range defined by the green and red horizontal lines.
The rally from the April $337 low still looks corrective, unless you count 1-2-1-2 for a bullish scenario. Friday had a Selling Climax (SC). The 2-year volume center sits around $430. If price can hold these levels, the overall range structure still has a positive bias.