SPX closed at a new rally high and is closing in on the all time high. Breadth was +69%. New highs were up a bit to 116, but not nearly as high as a few days ago (162). New lows dropped to 7. Volume was pretty light that last two days.
Not much to say about the futures.
SPX keeps on creeping higher. This is rather interesting. The market seems totally focused on trade talks with China. Nothing else matters. Will the coming earnings season change the focus? The breadth of this rally suggests SPX could make a slight new high. However, it does not tell us if it will end up truly breaking out and going higher. If SPX fails at some point it will likely be because of global economic weakness.
Have a great weekend.
Bob
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