Progress for the Bulls, But Will It Hold?
On this week’s edition of Moxie Indicator Minutes, TG explains that, barring any crazy event, the SPX will close its second month over the Monthly 10-SMA. This moving average is his primary tool for assessing whether a longer-term trend is bullish or bearish. The SPY continues to hold up, albeit sideways, but that is progress for the bulls. It does not have to last, but it is something to note until it changes or improves. Market breadth still isn’t great, but there are opportunities out there for to take.
This video was originally broadcast on March 31, 2023. Click this link to watch on YouTube. You can also view new episodes – and be notified as soon as they’re published – using the StockCharts on demand website, StockChartsTV.com, or its corresponding apps on Roku, Fire TV, iOS, Chromecast, Android, and more!
New episodes of Moxie Indicator Minutes air Fridays at 12pm ET on StockCharts TV. Archived episodes of the show are available at this link.