As we await a debt ceiling compromise between democrats and republicans the market is up and down and up and down again. As I write this post, it appears a preliminary deal has been struck and is ready for a vote this coming week.
From a technical standpoint, it appears we are in Phase 2 Advancing for the NASDAQ and SPY. The DOW retreated this past week. All positive signs as it often shows a move out of safety (DOW) to more speculative stocks.
Lots of Tech stock talk this week too with NVIDIA posting fantastic earnings.
An interesting read on StockCharts by Mary Ellen McGonangle.
