Stocks were up this week on low volume due to the market being open only 3.5 days this week. I suspect we continue higher since we are holding the breakout level without any signs of a pullback.
SPY weekly chart below:
Another reason why I think markets are bound to go higher is because the weaker sectors within the SPY – XLE and XLF (Energy and Financials respectively) have been outperforming.
XLE and XLF weekly charts below:
Let’s see if we get any sort of pullback this week. I think it’s still more likely we go up.
Hi, I’m Nathan. I majored in Finance and minored in Piano Performance at Boston University (graduated in 2020).
Outside of trading/investing, I enjoy programming, teaching and playing piano, teaching and playing Go, fishing, and watching anime. I also started my own Boba company while at BU.
I'm currently teaching Go full time, which has been the best job I could ever hope for. I'm also currently attending the App Academy bootcamp which started in January 2023.
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