π 8,250 for the S&P 500
π Daily ETF Overview
On our U.S. index table, we can see Small Caps $IWM continues to lead. This comes as the broad indexes have been making all time highs in what has been a remarkable recovery.
So long as the S&P 500 holds this breakout above 7,000, the next upside target is 8,250.
Given the major upside momentum, we'll certainly see some backing and filling in these coming weeks. But for now, the breakout is certainly on and the next target is established.
We may be seeing the beginning stages of leadership changing in the ETF world; from growth, to cyclicals, to international outperformance. But it's not just going to be these ETFs that see the biggest gains.
It's going to be the individual stocks driving the moves underneath them.
And earnings season is when we find out exactly which names the market wants to reward.
Yesterday, Steve Strazza hosted a time sensitive investor briefing where he broke down the one signal his team uses to identify which stocks are about to make their biggest moves on earnings, and how to get in position before they happen.
As a bonus for signing up, you'll get a free copy of the latest Beat Quarterly, where we score every S&P 500 earnings report to show you where leadership is quietly rotating.
