Market Momentum Short-Term Update for 6/25/21

Stocks resumed their uptrends and the S&P 500 and NASDAQ pushed to new highs. They remain stretched near extreme levels and therefore have much more downside potential than they have upside potential.

S&P 500
SPY (standard ETF) gapped up Thursday morning and then held steady, gaining 0.59% on the day. It remains positive above $422.30. Investors could continue waiting for a better opportunity, as the upside from here is still very limited.
SH (inverse ETF) fell 0.58% and remains negative below $15.60. Investors could hold if not stopped out or buy when it reaches neutral.

Gold went nowhere on Thursday.

GLD (standard ETF) finished down 0.06% and remains negative below $169.30. Investors could continue to wait for a return to neutral.

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