The market continues to make new highs. Let’s take a look at the trend for all of the major market indices, starting with the $SPY.
$SPY has continued to soar higher, maintaining its position well above all major moving averages. The trend here is clearly up.
The same story is true for the Dow Jones:
Here is the Nasdaq:
One can consider joining in on the trend here via $QLD - it’s cheaper.
Finally, we have the star of the show - $IWM:
$IWM has a huge breakout and continues to climb higher. One can certainly go long this ETF, or can consider getting long specific small cap stocks, such as $WTW.
Taking a look outside of the US and at China, here’s $FXI, an ETF tracking the Chinese Market
Trend holds as we bounce off of the 50MA. The overall trend here is bullish as well. One can look towards specific stocks in China to get long, such as $BZUN.
Trend of Market: UP
Our Bias: Bullish
Our investment team will continue to maintain our bullish stance on the market until circumstances change. For now, we hold all positions in our portfolio, and will continue to do so until we get a sell signal.
Have a great weekend!