While we wait for the Russell 2000 (IWM) to push past the March swing high, we have a Semiconductor Index ($SOX) ready to break past a small ’bull’ flag, using the 200-day MA to leverage the push higher.
Technically, the CCI is a ’sell’ but other indicators are bullish, including a relative performance advantage over the Nasdaq 100.
The Russell 2000 ($IWM) remains primed to move higher. Little more needs to be said, although an undercut of Monday’s low would be an aggressive short.
The S&P 500 and Nasdaq remain on course to test February highs off the back of solid technicals.
Bitcoin is pressuring highs, ready to deliver a measured move to $145K if it can close the week near current levels.
For today, look for trades in the Russell 2000 and Semiconductor Index, and longer-term investment opportunities in Bitcoin.