Private details about this brand new indicator have now LEAKED!
Who needs to worry at a time like this?
The Bears have been screaming for a Dot-Com-like crash, but the market has other ideas.
Last week the market was going sideways, waiting for the Fed.
Then the Fed gave the answer everyone was looking for, and the market started upwards again.
Here’s SPY:
Recent price action has just powered right through possible resistance at $652.20. With the Fed saying rate cuts are almost certainly coming, the mood has changed.
If we look at sentiment, we’ve seen that change. The Fear & Greed Index went from Neutral to Greed:
Meanwhile, Home Depot (HD) has been steadily climbing toward a breakout level. It’s been bullish in six of the past seven weeks.
Here’s the chart:
A break above $426.20 could lead to a big bullish run for the home improvement stalwart.
We’ll keep an eye on it.
Happy trading,
Scott
