Earlier than detailing the U.S. markets’ wider view, the S&P 500’s
SPX,
-0.19%
 hourly chart highlights the previous two weeks.

As illustrated, the S&P has rallied to the vary high, rising to problem document highs.

The prevailing upturn punctuates final week’s retest of the 50-day shifting common.

Extra instantly, the Feb. peak (3,950) stays an inflection level, and is adopted by the three,915 assist.

Equally, the Dow Jones Industrial Common
DJIA,
-0.20%
 has prolonged its rally try, rising to problem document territory.

Right here once more, the prevailing upturn punctuates a bullish reversal from two-week lows.

Tactically, near-term inflection factors within the 32,500 and 32,800 areas stay in play.

Maybe not surprisingly, the Nasdaq Composite
COMP,
+0.01%
stays the weakest main benchmark.

As illustrated, the index is not difficult document highs.

As a substitute, the index is vying to easily preserve main assist matching the 2020 peak (12,973), an space additionally illustrated under. A doubtlessly consequential retest stays underway.

Widening the view to 6 months provides perspective.

On this wider view, the Nasdaq has registered an prolonged check of main assist (12,973).

The particular space matches the 2020 peak (12,973) a degree that additionally marked the early-March breakdown level. (Recall the preliminary violation of the 2020 peak punctuated a head-and-shoulders high, a bearish sample that was subsequently neutralized by the swift reversal again to the vary, fueled by two 7-to-1 up days.)

Tactically, a sustained violation of assist would sign a bearish intermediate-term bias.

Delving deeper, important assist (12,607) carefully matches the March closing low (12,609). (See as an illustration, the Jan. 11 assessment.)

Trying elsewhere, the Dow Jones Industrial Common stays the strongest main benchmark.

Recall that final week’s low (32,071) registered above the breakout level (32,009) to punctuate a profitable retest.

The Dow has subsequently knifed from assist, notching consecutive document closes.

Extra broadly, the index has registered directionally sharp March rallies, and a comparably flattish intervening pullback. Bullish momentum is unbroken.

In the meantime, the S&P 500 has staged a bullish reversal from its 50-day shifting common.

The prevailing upturn locations the marquee 4,000 mark inside hanging distance.

The larger image

Broadly talking, the prevailing backdrop is basically bullish, although it isn’t one-size-fits-all.

On a headline foundation, the S&P 500 and Dow industrials proceed to press document territory.

In the meantime, the Nasdaq Composite stays removed from document highs, because it vies to easily preserve main assist (12,973). A doubtlessly consequential retest of this space stays underway.

Shifting to the small-caps, the iShares Russell 2000 ETF
IWM,
+1.79%
 has to date weathered a decent pullback from latest document highs.

Nonetheless, the small-cap benchmark has asserted a posture underneath its 50-day shifting common (220.65) and the previous vary backside (216.70).

Deeper inflection factors match the March closing low (213.19) and absolute March low (207.21). An eventual violation would mark a “decrease low” — and punctuate a modified double high — elevating an intermediate-term warning flag.

In the meantime, the SPDR S&P MidCap 400 ETF
MDY,
+1.20%
 stays incrementally stronger.

As illustrated, the MDY has maintained a posture comfortably atop its 50-day shifting common, outpacing the small-caps.

Individually, the prevailing bullish reversal has been punctuated by a rally atop the previous breakout level.

Trying elsewhere, the SPDR Belief S&P 500
SPY,
-0.21%
 has additionally reclaimed its breakdown level, an space matching the February peak.

The strong-volume bullish reversal punctuates a profitable check of the 50-day shifting common.

Putting a finer level on the S&P 500, the index has rallied towards its vary high, rising to problem document highs.

The prevailing upturn punctuates a jagged check of main assist (3,870) and the 50-day shifting common, at the moment 3,881.

Throughout the vary, the Feb. peak (3,950) stays an inflection level.

Extra broadly, the prevailing bullish reversal locations document highs underneath siege.

The S&P 500’s document shut (3,974.54) and absolute document peak (3,983.87) relaxation simply overhead, and are carefully adopted by the marquee 4,000 mark.

Additionally recall that near- to intermediate-term targets technically mission to the 4,050 and 4,085 areas, detailed beforehand.

Extra broadly, the S&P 500’s profitable retest of the 50-day shifting common — mixed with the prevailing sequence of “increased highs” and “increased lows” — sign a firmly-intact intermediate-term uptrend. The S&P 500’s path of least resistance continues to level increased.

Additionally see: Bull development intact: S&P 500 retests the breakdown level.

Tuesday’s Watch Listing

The charts under element names which are technically effectively positioned. These are radar display names — sectors or shares poised to maneuver within the close to time period. For the unique feedback on the shares under, see The Technical Indicator Library.

Drilling down additional, the Supplies Choose Sector SPDR
XLB,
-0.34%
 is performing effectively technically. (Yield = 1.7%.)

As illustrated, the group has tagged a nominal document excessive. The prevailing upturn punctuates a decent mid-March vary, in addition to an prolonged February check of the 50-day shifting common.

Tactically, the 50-day shifting common, at the moment 75.35, is rising towards the vary backside (75.80). The prevailing rally try is firmly-intact barring a violation.

Initially profiled March 2, Dow 30 part Boeing Co.
BA,
+0.58%
 has returned 11.6% and stays effectively positioned.

Earlier this month, the shares knifed to 52-week highs, clearing resistance matching the December peak. The next pullback has been fueled by decreased quantity, inserting the shares 11.2% underneath the March peak.

Tactically, the breakout level, circa 240, is adopted by the post-breakout low (231.70). A sustained posture increased alerts a firmly-bullish bias.

Goal Corp.
TGT,
+0.73%
 is a large-cap retailer coming to life. (Yield = 1.4%.)

Technically, the shares have knifed atop trendline resistance, rising to problem document territory.

The prevailing upturn has been fueled by tandem quantity spikes — and subsequent sideways worth motion — laying the groundwork for a possible breakout.

Barely extra broadly, the shares are rising from a year-to-date vary hinged to the steep early-January rally. An intermediate-term goal tasks to the 222 space on follow-through.

F5 Networks, Inc.
FFIV,
-0.05%
 is a effectively positioned large-cap networking title.

As illustrated, the shares are difficult a three-month vary high matching document highs. The prevailing vary is underpinned by hole assist. (See the early-January hole and subsequent retest.)

Tactically, near-term assist (204.60) is adopted by the 50-day shifting common, a latest bull-bear inflection level. A breakout try is in play barring a violation.

Extra broadly, the shares are effectively positioned on the three-year chart, rising from a continuation sample hinged to the steep late-2020 rally.

Lastly, Ternium S.A.
TX,
+3.66%
 is a effectively positioned large-cap Luxembourg-based metal producer. (Yield = 5.5%.)

The shares began March with a strong-volume breakout, reaching 34-month highs. The next orderly vary is a bullish continuation sample.

Extra instantly, the prevailing upturn has been fueled by elevated quantity, enhancing the possibilities of extra decisive follow-through. Tactically, a near-term flooring matches the previous vary high (34.50). A breakout try is in play barring a violation.

Nonetheless effectively positioned

The desk under contains names just lately profiled in The Technical Indicator that stay effectively positioned. For the unique feedback, see The Technical Indicator Library.