US stock market ready to move UP.....

Indices have consolidated nicely, ready to move higher.

Before we look @ rationale for my optimistic message, it is important to look @ RSI and they are :

Nasdaq              60.36

S&P 500            60.06

DOW                 57.97

SOX                  56.68

XLE                  54.81

RUT                 50.34  

TAN                 42.89

GLD                42.68

As you can see with the above RSI numbers, that leading indices are showing strength, which is a good thing for future direction. 

It is also obvious that SOX & RUT are consolidating / testing support before moving higher again.

TAN & GLD are near lows showing weakness.

There is another technical strength which is showing known as extremely reliable " golden cross " 50 DMA being above 200 DMA, a strong short term positive trend.

DOW & SOX have made " golden cross " already

S&P 500 is ready to make it as soon as next UP day.

Nasdaq is also close to making golden cross in few trading days.

RUT is little behind in doing Golden cross

Many stocks are consolidating near support like AMD NVDA LRCX and ready to move higher.

FB AMZN looking ready to move UP

Chinese stocks like BZUN HUYA have made their move higher, others like MOMO IQ ready to make their move now.

All in all TAPE is looking very healthy.

Strong stocks will outperform.

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem