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U.S. Stock Market Soars to New Highs

Written By: ChartChamp

July 5, 2024

The U.S. stock market continues to rally higher while the crypto market has suffered a multi week downtrend. There is now a significant divergence between U.S. stocks and crypto.

S&P Holds Above Resistance

The S&P has flipped this key resistance level into support, and continues to trend up higher. I’m seeing a lot of bullish momentum here, and I’d like to see continued upside with the price staying above the white trendline.

NASDAQ Maintains Bullish Momentum

The NASDAQ continues to rally higher as well. We are seeing insider selling from Nvidia and Jeff Bezos, which has raised some concerns. However, Nvidia’s CEO has completed his sells and Bezos has announced his several months ago. I think we are on trend for continued upside in July and August.

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