The SPY is still in this bull flag it has been in for weeks, it has not broken out but it is trying. It looks like momentum may be flipping positive here shortly in a few sessions but things are looking good today with oil down dramatically over the last few sessions really helping things out. Remember all those airline trades that came in last week in size? The VIX is also sub 15 now helping propel the market today. We really need to push over 775 to get out of this series of lower highs but overall things look fine right now with us over all the key short term moving averages and trending.
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Here are today’s large cap scans from the database. We are finally seeing large cap tech in these scans with AMD and NVDA so charts are finally shaping up for tech. If you remember for weeks we barely saw any tech in here.
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