US stocks were buoyed by the tech sector last night helping the S&P500 touch fresh all-time highs intra-day. We still believe the markets set for further upside but the air feels like its thinning almost daily.
MM is looking for a test of the 4000 area by the S&P500 in the weeks / months ahead.
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The tech space is presenting an interesting picture with a number of heavyweights like Apple looked at earlier appearing to have already topped out but the NASDAQ looks ok technically for another assault on the 14,000 area, or 7% higher. At this stage were mildly bullish and monitoring carefully.
MM remains bullish tech short-term.
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