US Stock Market Leadership

The leadership chain is intact.

SOX/NDX has remained functional. NDX/SPX has regained functionality. SOX/SPX is making a new high. Per this chart, as noted on Sunday in NFTRH 622, “this is an intact leadership picture for the US stock market.”

The last 2+ days have done nothing to alter that view. Indeed, they’ve enhanced it. Personally, I have wanted a better correction. But we may not get it.

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