Markets Report: a strong finish to the year?
We're almost there...
The S&P 500 is approaching its all-time high. Certain sectors like XLK have rallied 10 days in a row, and VIX almost fell 10 days in a row.
VIX:
Tech sector:
This week saw limited gains for stocks, unlike the previous week which saw broad gains across sectors. A Zweig Breadth Thrust did NOT trigger, and the window for a Zweig Breadth Thrust is officially closed:
It’s important to remember that the definition of a Zweig Breadth Thrust is arbitrary (the Indicator rallying from 0.4 to 0.615 within 2 weeks). The previous Friday saw the Zweig Breadth Thrust Indicator reach 0.595
At its peak, more than 34% of NASDAQ Composite stocks had triggered a MACD Buy Signal:
