Relentless Strength, Measured Moves
New highs. Calm charts. Quiet power.
The Markets
Another day, another high.
SPY and QQQ both printed fresh highs today — the tape just refuses to break.
IWM is consolidating recent strength, testing the WTD AVWAP and the rising 5-day MA.
DIA lags a bit, pulled down by post-earnings weakness in IBM and pressure from UNH headlines.
Bitcoin stays quiet near 120K — still consolidating the recent run.
The Charts
SPY: New highs. Simple as that.
RSI is cruising along at very bullish levels. The MAs and Bollinger Bands are trending higher. And volume is normal and healthy.
QQQ: Same. Relentless strength, still trending.
IWM: Took a day off, but is trying to hold short-term potential support at the WTD AVWAP and 5-day MA.
DIA: Slight relative weakness, but not broken, as it also tries to stay above the WTD AVWAP.
BTC: Flat. Consolidating.
TLT: Still stuck below all of the moving averages except the 8-day. Bounce attempts continue to struggle.
DXY/DX1!: Every rally this year has stalled near the declining moving averages.
This recent test of the 50-day was no different — rejected again.
As long as price remains below these levels, the path of least resistance is still lower.
The Trade
No bold moves here.
The indexes are extended, but not rolling over.
Individual names are rotating — leadership shifting.
Today was about digestion. The post-earnings reactions from TSLA and GOOGL are in. Now we watch the follow-through.
If IWM holds this pullback, it could offer the next opportunity.
Until then, it’s a wait-and-see environment.
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The Disclosures
***This is NOT financial advice. This is NOT a recommendation to buy, sell, or trade any security. The content presented here is intended for educational purposes only.
