In today’s briefing:
- Growth Leading This EOY Rally; Expect More Upside. PHLX Semis $SOXX With a Bullish 5-Month Reversal
Growth Leading This EOY Rally; Expect More Upside. PHLX Semis $SOXX With a Bullish 5-Month Reversal
- Our outlook remains bullish and we see the market in the midst of a significant end-of-year rally that we have been expecting since mid-October.
- We continue to expect support at 20-day MAs on $SPX and Nasdaq 100 (QQQ), while support at current levels or the 50-day MA is likely on the Russell 2000 (IWM).
- Market dynamics continue to improve, giving us confidence that this bull run is likely to go at least another month into mid-January, and quite likely beyond.
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