As a new week begins, there is much to be bullish about. First, last week ended on somewhat of a bullish note, which should led to higher prices this week. Of the stocks leading the market higher, tech stocks have largely led the way. As investors flee from banking stocks and other sectors they see as overly risky, given the developments in the financial sector over the past couple weeks, they seemed to have put their money into the bevy of battered tech stocks.
Seasonality is also playing a part in the renewed sense of bullishness as we are entering a period that is typically regarded as a bullish period in the market.
If we do press higher this week, we expect a clear hurdle to be at 4000 on SPX, if we clear this level, we believe the next clear level to test would be 4100. If these levels are confirmed we strongly believe a run higher is in the cards.
Watch my full market breakdown below and be sure to add these levels to your trading screens!
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