The bear market may be over. But this new bull is taking its sweet time to get moving.
The S&P 500 finally closed over the 4,200 mark last Friday – a level which has served as major resistance for over 9 months.
I want to see the 4,200 level flip over and act as support instead.
If that happens, that's a very strong indicator that the market will keep pushing higher in the short term.
Since it appears the debt ceiling debacle will be resolved soon, I'm hoping this will be the case.
The next level to watch after that will be 4,300 – which were the highs back in August 2022.
If the market can break through that – now we're talking.
With all that said – don't let yourself get overly influenced by the broader index (something I've always said). Today's Insight of the Day explains why.
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