Mag 7 Breakout

6月18日

The Mag 7 has been strong recently, pretty much carrying the entire market by itself. This will be important to watch, as long as the Mag 7 remains strong and in an uptrend, it's hard to argue against bulls. It had an ascending wedge which I deemed to be bearish, but now that it has broken to the upside, I have to be bullish until it falls back into the wedge. I'd expect the first retest of this wedge to provide some sort of bounce, so I'll be looking at the Mag 7 if that retest occurs and consider opening longs on any that are at or near support at the same time.