📈 What Happened This Week?

And how can you get an edge for next week?

The Week in Review

We had another strong week in the stock market! The indexes are at all-time highs and it looks like semiconductors will never pull back.

Let’s review the indexes and sectors to see what transpired this week.

S&P 500

The S&P 500 had another follow through week and looks fantastic.

This week we pushed above the 70 RSI level. Remember that this does not mean that the market is going to pull back. We can stay above 70 for a long time.

What you do need to watch for is when we break the 70 level. That is a signal that a pullback is coming.

Nasdaq

The Nasdaq looks similar. We made new all-time highs this week which we had not done last week.

We are over 70 on RSI. We are above all moving averages.

Just because we are this high does not mean we cannot continue.

Russell 2000

The Russell 2000 has been lagging other indexes but had a strong week.

We closed at the high of the week and are trying to break out of the base that we have been in since mid-2022.

This is an important sector to watch next week to see if we can make a higher high and confirm a move out of that base.

Sector Comparison

The top sectors this week were: BLOK TAN SOXX KWEB and PBW.

These will be imporant to watch for continued strength next week. You should familiarize yourself with the top holdings in each ETF.

For more analysis, watch my weekend video below which dives much deeper into what we are seeing in the stock market: