Key Points
- The S&P 500 index and the Nasdaq QQQ ETF have made new highs at 7126 and 649, respectively, signaling a fresh advance.
- However, the Strait of Hormuz remains closed.
The S&P 500 broke resistance at 7000, rallying to 7126 on Friday, buoyed by optimism over a resolution to the war with Iran.
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Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.