There is either an express scenario for the S&P500, which is currently my primary scenario. In this scenario, we still see a slight correction to the short-term uptrend and then a push to new highs above 5,670 points. A flat “cup with handle” formation is forming on the daily chart. This very strong formation has a cap at 5,670 points; if it is overtraded on a daily closing basis, I will take a long position with a target of 6,025 points.The Nasdaq100 has not yet admitted defeat and has regained strength against the S&P500 this week and is now in neutral territory. In the U.S. sectors, the defensive sectors “Real Estate” and “Utilities” are still in the lead, but this week “Technology” is ahead with a performance of 7.66 %. As this is a U.S. election year, there is a high probability that technology stocks will make a comeback, as the high weighting in the indices means that a rise in this sector is almost inevitable for a positive end to the year. I am currently still underweight here, but if the return to relative strength is successful, I will overweight the technology sector at the end of the year.Everything is going according to plan for the Russell2000, even if the relative strength against the S&P500 and the Nasdaq100 has waned again. In such phases, when the sector trend diverges so widely between offensive and defensive sectors, I focus on good individual stock settings. If you are interested in the details, you can read the stock selection criteria at Traderfox: https://lnkd.in/dV56c2r4 The basic scenario therefore remains positive, but it is unclear whether the cyclical or defensive sectors will lead the next breakout. What do you think? Share your opinions and experiences in the comments!
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