Hidden Weakness Please click here for an enlarged chart of SPDR S&P 500 ETF Trust (NYSE:SPY) which represents the benchmark stock market index S&P 500 (SPX). Note the following: The chart shows the stock market is nearing a record high.
The chart shows a sustained new high would push the stock market above zone 1 (resistance). The RSI pattern indicates there is room for the market run.
2% and Nasdaq Composite fell about 78%. Further in our analysis, prudent investors should also not ignore the hidden weakness below the surface.
2%. About 50% of Russell 3000 stocks are in a bear market.
Four additional factors are adding to the bullishness in the stock market this morning: Oil is pulling back. This is primarily for two reasons: There are reports that more tankers are traveling through the Strait of Hormuz with their lights and radios off.
U. is releasing 100M barrels of diesel and oil.
Yields are pulling back due to oil pulling back. Advanced Micro Devices Inc (NASDAQ:AMD) is planning to increase chip supply in 2027 to meet growing demand.
S. In the early trade, money flows are positive in Amazon (NASDAQ:AMZN), Alphabet Inc Class C (NASDAQ:GOOG), Meta Platforms Inc (NASDAQ:META), Microsoft Corp (MSFT), NVIDIA Corp (NVDA), and Tesla Inc (TSLA).
In the early trade, money flows are neutral in Apple Inc (NASDAQ:AAPL). In the early trade, money flows are positive in S&P 500 ETF (SPY) and Invesco QQQ Trust Series 1 (NASDAQ:QQQ).
The most popular ETF for oil is United States Oil ETF (NYSE:USO). Bitcoin Bitcoin (CRYPTO: BTC) is range bound.
What To Do Now Consider continuing to hold good, very long term, existing positions and add tactical positions based on signals. The Arora Report is known for its accurate calls.
Most recently, we correctly called the rally from recent stock market lows and the 2026 semiconductor decline before a 25% drop in the Semiconductor ETF (SMH). In gold, we bought at an average price near $1,105, close to cycle lows, and took partial profits near $5,400, close to cycle highs.
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