From the desk of Tom Bruni @BruniCharting
Despite the higher highs and higher lows in the major indices, all-time highs in riskier assets such as micro and small-cap stocks, and fresh breakouts in leading sectors like Technology and Consumer Discretionary, there continues to be a subset of market participants who fight this rally.
I’m a weight of the evidence guy, so I’m happy to change my mind when the data suggests it’s time to, but it hasn’t and that’s why we’ve written primarily about long setups in the strongest areas of the market like Technology, (Premium Biotech), Consumer Discretionary, Retail, Restaurants, (Premium) Energy, (Premium) Homebuilders, etc. over the last few months.
With that said, today I want to share one chart with you that keeps me bullish on equities despite all the short-term noise.