Technical thoughts on Chemical stocks, Intel, Tesla and Bitcoin

The ability of SPX and NASDAQ to close up near its highs of the week is certainly thought to be a positive, not a negative as prices officially broke out of their long-term downtrends on a weekly basis for the first time since the market top.

Importantly, this rally certainly seems like a lot more than just short-covering.  Sectors like Technology have continued to gain ground over the last few weeks and Tech is now the third best performing sector ...

The ability of SPX and NASDAQ to close up near its highs of the week is certainly thought to be a positive, not a negative as prices officially broke out of their long-term downtrends on a weekly basis for the first time since the market top.

Importantly, this rally certainly seems like a lot more than just short-covering.  Sectors like Technology have continued to gain ground over the last few weeks and Tech is now the third best performing sector ...
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