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David's

Market Week 50


Last week we have got a confirmation move which implies that this market still ready to move. So this week a cautious up move still continues. From the FED comment, this got another green light for new highs. Seems like nothing could stop now to reach new highs and set new records.

S&P500 Week 50

S&P500 from Finviz.com

Still bullish. I expect slow but firm up movement every day until year’s ending. Until EMA(50) holds no need to panic. Today or tomorrow a new High could be set and that means the last week’s lower lows were meaningless. Other indices are following so no need to analyze them separately.

ESA Index from Bloomberg

Summary

The market is still bullish. Hard to right the same thing every week.

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