U.S. Market
The U.S. market was Shifted Back to a Confirmed Uptrend from an Uptrend Under Pressure. The S&P 500 and the Nasdaq gained 1.9% and 2.3%, respectively, and closed at new all-time highs. Indices have rebounded well from support near their 50-DMA and quickly retook and held above their 21-DMA (6,685/22,721), which will act as primary support once again. The distribution day count stands at three and six, respectively, with two days set to expire on the Nasdaq next week.
