Meta Strategy Trading Portfolio – Probability Map Update.

Successful Breakout

So far so good, the S&P 500 broke above a short-term bull flag last Tuesday and triggered a long entry.

The technical picture now presents an overwhelmingly bullish momentum environment that is still met with widespread disbelief.

Objectively, stocks trade in an uptrend across all time frames.

Quantitative market studies, seasonality and resilient fundamentals all show significant strength and a return to a positive market regime.

A three-week consolidation has helped to normalize overbought conditions, but simultaneously began to cause divergences across momentum indicators.

Without new negative evidence of a stalling rally the next targets are at new all-time highs with the next seasonal window of potential weakness around monthly OpEx.