Since the VPCI W bottom on June 21st, the bulls have taken short term control of the market. Two weeks ago, we noted the positive divergence between upside volume and price which played itself out strongly this past week. Despite the strong bullish tenor of the market this past week, capital flows were positive yet weaker relative to the price action. Additionally, we are meeting near term S&P 500 resistance here @ 4000 with more resistance again @ 4100. Overall, the markets have moved swiftly higher over a short time frame and could use some rest and refueling to overcome these upcoming resistance levels ahead.
Updated: 7/25/2022
Historical references do not assume that any prior market behavior will be duplicated. Past performance does not indicate future results. This material has been prepared by Kingsview Wealth Management, LLC. It is not, and should not, be regarded as investment advice or as a recommendation regarding any particular security or course of action. Opinions expressed herein are current opinions as of the date appearing in this material only. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate their ability to invest for the long term. Investment advisory services offered through Kingsview Wealth Management, LLC (“KWM”), an SEC Registered Investment Adviser.
© Kingsview
Read more commentaries by Kingsview
