U.S. Market
The U.S. market remains in an Uptrend Under Pressure. The Nasdaq closed just below all-time highs (21,457), which would have been the trigger to shift the market back into Confirmed Uptrend. For the week, the S&P 500 and Nasdaq rose 2.4% and 3.9%, respectively. The S&P 500 still has minor resistance at prior highs (6,339). Support is at their 10-DMA (6,340/21,101), followed by their 21-DMA (6,307/20,924). The distribution day count stands at four and one, respectively, after one distribution day expired on each index on Friday’s close.