Index Charts See Multiple Improvements All but two key benchmarks are now in near-term uptrends.
Apr 05, 2021 | 10:39 AM EDT
The charts of the major equity indices have generated multiple positive technical events, while the data remains generally neutral as cumulative market breadth also improved.
The only thing keeping us near-term neutral in our macro-outlook for equities is the fact that the S&P 500 has already gained 70 points over the past six sessions and is gapping higher Monday morning. As such, we would look for potential tests of support for more attractive buying opportunities.
On the Charts
Source: Worden
All the major equity indices closed higher Thursday with positive internals. The charts saw multiple bullish technical events generated as follows:
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Prices eventually reached the $50 s but 2018 saw a hard decline to new lows. Now the picture is much, much different.
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