We are back above SPX 3000. Yeah us. If you are bullish, you’ll have to thank the Russell 2000 (Rut2K) for leading the way. That didn’t change today as you can see from this A/D stack:
The Rut2K had a closing A/D line of 1.4:1. The S&P barely broke to the positive side, while the Nasdaq 100 was dragging with a negative A/D line -1.23:1.
Next week should show us higher prices. Enjoy the weekend and recharge.
1 Billion at the reveal was an upside surprise, although price action didn’t really care.
See you all next week.