Technical Tuesday - February 8, 2021 - Equities

The S&P 500 is into a short-term MOB band, which may result in a pause in the index. Once this zone is cleared, we expect price to tag the 4000 target level identified by our Money Flow Unit (MFU) analysis. The Nasdaq composite is into the MFU-4 level of 14000, and we think there will be a pause in the advance. We will need to see how the index trades in this zone in the coming days to determine if it’s something more than a pause or a breakout above this level.



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