SPX - New bull market being born
SPX broke two important resistance levels: the downtrendline from the peak, and 200d ma. At the same time, AD line is surging and taking out previous peak one after the other. We can conclude that FAANG's were dragging the indicies lower, while the broad market was rallying for some time already. Now that MSFT, AAPL, GOOG, TSLA, FB, AMD, NVDA, etc... seem to have joined the party, indicies could surge violently, considering how underinvested, or outright short, everybody is.
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