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We've Upgraded Our Market Outlook: Here's Why


We ve Upgraded Our Market Outlook: Here s Why
Our discipline requires us to change our near-term view.
Jan 21, 2021 | 11:12 AM EST
With the major equity indices posting new all-time closing highs and the FAANG stocks making notable gains, all the index charts are back in near-term uptrends.
And while psychology and valuation continue to flash their warning signals, the McClellan Oscillators remain neutral. With this current setup, our discipline requires us to move our near-term outlook.
Here s what the charts and data are telling us:
On the Charts
Source: Worden
All the major equity indices closed higher Wednesday with positive internals as virtually every major equity index managed to post new all-time closing high. As such, all are now in near-term uptrends while cumulative breadth remains positive on the All-Exchange, NYSE and Nasdaq. ....

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