Taking the analysis further
If you want to go deeper than the weekly charts — including how the levels translate into actual trade planning and risk management — you can follow the work Brian Shannon and I do at Alphatrends.
That’s where we walk through the same market structure in real time and apply the process to actual trade setups.
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Summary
Markets continue to show resilience with major indexes holding above rising trend measures and participation remaining healthy beneath the surface.
Growth stocks continue to lead, consumer discretionary remains strong, and equal-weight indexes are showing encouraging follow-through. Software has staged an impressive recovery, biotech appears constructive, and financials remain a potential source of future leadership if they can finally break higher.
While Bitcoin remains under pressure and some sectors are consolidating recent gains, breadth indicators, bullish percent indexes, and relative strength relationships continue to support the broader bullish case.
The market may be extended in places, but the evidence currently points toward rotation and consolidation rather than meaningful deterioration.
Show Notes
Major indexes remain above rising longer-term trend measures.
Growth continues to outperform value.
Consumer discretionary leadership remains intact.
Equal-weight indexes continue improving participation.
Financials remain a key area to watch for a potential breakout.
Software and biotech are showing improving relative strength.
Bitcoin remains under pressure below key moving averages.
Volatility remains subdued despite concerns about market risk.
Breadth indicators continue holding up well.
No significant deterioration evident beneath the surface of the market.
References & Chart Resources
Chart School
https://www.trading-adventures.com/t/chart-school
The Bullish Percent Index – A Technician’s Perspective
Relative Strength – What Is It Really?
Take the analysis further
If you want to go beyond the weekly charts — including how the levels translate into real trade planning and risk management — you can follow the work Brian Shannon and I do at Alphatrends.
That’s where we review the markets in real time and walk through how the same principles are applied to actual trade setups.
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