Why the bulls are winning
|S&P 500 ignored suboptimal income data with core PCE not too tame either, and that‘s a very optimistic sign considering the entry to the week 7 days ago. This Friday, the only dip was Canada tariff tweet related, and again we saw buying into the close, which was what I called for to unfold. Those breadth warning signs had been most clearly worked off this week, shifting the bias to clearly bullish as tech keeps outperforming, financials are doing great… and not even weakening dollar (setbakc for capital inflows to the US) stands in the way of S&P 500 appreciation.
Another aspect that I had been vocal lately about, is the decline in rates (this is generally true around debt ceiling interfering with bringing fresh Treasuries supply to the market), continued COIN and other stablecoins related financial landscape disruptors having a great time.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.