Author: Sandeeep N

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq closed relatively flat for the week after each held support along short-term moving averages. The S&P 500 rallied off its 10-DMA Friday to close back at its upper channel line, while the Nasdaq held its 21-DMA before moving back toward all-time high resistance at 14,175. The distribution day count stands at four each with one expiring on the S&P 500 and two on the Nasdaq next week.