- The NASDAQ is pushing toward fresh highs and we're seeing a clear divergence between the price action on the NASDAQ vs the S&P 500
- The S&P 500 is still testing its former high of 2137 as seen by the dotted read line of the weekly chart. It managed to close above this area last week.
- Leading growth stocks such as ACIA , AMBA , MELI , LITE, TWLO , REN, etc... continue to find support and run higher
- The number of stocks making New Highs vs New Lows on the NASDAQ and NYSE are stable. Typically when markets are readying to roll over we see the number of new lows expand ahead of the indexes. This hasn't happened yet.
So until leading growth stocks cease working, from a swing trading, momentum based standpoint, I'm continuing to let me stocks, watch lists, and portfolio guide me into or out of the market...and for right now it's telling me to stay long.