U.S. stocks rose Monday to start a busy week of corporate earnings. There were several important developments taking place today: the S&P500 closed above 3000, Nasdaq got close to an important 8000 level, while JPM and AAPL continued to make new all time highs.
Nasdaq has formed a very pronounced triangle during the last several months. I decided to review the history of NQ futures index to identify all of the triangles during the last 20 years. Let’s see what I learned from this research.
Stocks rose Thursday, as high-level trade negotiations between the U.S. and China kicked off. The S&P500 tape as well as the price action was mostly bullish today. As a result, the three major indices closed above their respective 50d MAs. Let’s see how the market model indicators changed after today’s action.