As we all know, the US stock markets have made a terrific comeback from the 2020 "mini-crash" (from bottom in mid-March)
- however, the SPY and QQQ have been moving basically sideways for the last several weeks/months
- as of today, these Indices may have experienced a breakout to the upside in time for another "Christmas Rally"
In the graphs below, you can see these recent "Breakouts" for the SPY and the QQQ.
- MIPS is still saying that this IS indeed a breakout (but there is still a possibility that the market is becoming highly overbought)
All MIPS models are still Long...
Paul Distefano, PhD
Founder / Lead Developer
MIPS Timing Systems, LLC