SPY intraday holding up very well at 619 over the last two sessions.
Technology and Small Caps are the market leaders.
Starting to see some resistance on the T2108 indicator form in the short-term.
The Fed essentially let 0.4% ($27b) of the balance sheet run off last month. That's not going to make much of a dent.
CRAZY! Even with April's pullback or the 2022 pullback, it didn't dip below the dot-com highs.
Huge move out of T2108 helping to close one of the biggest divergences out there.
Tech remains the kingpin of the stock market.
It'd be ironic if suddenly the crowd became bearish in July on SPY.
Devalue the dollar enough, you can spark a stock market rally and ignore the purchasing power decreasing.
It's all semis at this point that is pulling this market higher.
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