(Kitco Commentary) - S&P 500 ignored suboptimal income data with core PCE not too tame either, and that‘s a very optimistic sign considering the entry to the week 7 days ago. This Friday, the only dip was Canada tariff tweet related, and again we saw buying into the close, which was what I called for to unfold. Those breadth warning signs had been most clearly worked off this week, shifting the bias to clearly bullish as tech keeps outperforming, financials are doing great… and not even weakening dollar (setback for capital inflows to the US) stands in the way of S&P 500 appreciation.
Another aspect that I had been vocal lately about, is the decline in rates (this is generally true around debt ceiling interfering with bringing fresh Treasuries supply to the market), continued COIN and other stablecoins related financial landscape disruptors having a great time - talked and more in latest video.
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Let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article contains 5 more of them, with commentaries.
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