Somewhat of a recap of the analysis on SPY, QQQ & IWM covered in the video published for members earlier today with TLT (Treasury Bonds) covered towards the end of the video.
- SPY rallied & essentially closed right at the top of the recent trading range defined by the post-FOMC induced rally from Thursday, March 21st
- QQQ remains below the March 21st post-FOMC meeting rally but also mounted an impressive rally today along with SPY
- The rallies in both QQQ & SPY, as well as nearly all the top components of both occurred on below-average volume today
- IWM ran into & stopped at downtrend line resistance today
- TLT (Treasury Bond ETF) was down sharp today with the recently highlighted potential negative divergences continuing to firm but but still not confirmed
- Still awaiting a definitive breakout & solid weekly close above or below the recent trading range/resistance in the broad market