GNG TV: S&P 500 Breakout — Will the Rally Continue to All-Time Highs by Year End?

In this edition of the GoNoGo Charts show, as equities rally with speed from 4600 to 4700 this week, Alex and Tyler take a look across style boxes, cap scales, asset classes, and sectors, and review small-cap industrials that are part of the broadening leadership groups giving legs to this market. What can be determined from this week’s trading is that the S&P 500 breakout above prior resistance around 4600 has led to a sharp rally higher.

Will US equities reach all time highs by year-end? If that is to happen, strong Go Trend conditions, and supportive momentum will be our signals that this rally is sustainable. Interestingly, the Russell 2000 ($IWM) has also broken out of prior resistance on weekly period. The conditions in the US Dollar index (UUP) and US Treasury rates ($TNX) remain in NoGo trends on the daily basis, adding accommodative tailwinds for equity indices.

This video originally premiered on December 14, 2023. Click this link to watch on YouTube.

Learn more about the GoNoGo ACP plug-in with the FREE starter plug-in or the full featured plug-in pack.