CMT Association affiliate member Tom Bruni, technical analyst at AllStarCharts.com, published an article Thursday analyzing potential near-term market moves using relative strength charts.
"Sectors and stocks that held up well during the correction are likely to lead, and that’s exactly what we saw from Cloud Computing, Software, and other areas of Technology that are now leading higher," as illustrated by the chart above, Bruni wrote.
"Based on the mixed bag we have today, it’s unclear how the major indexes will ultimately resolve themselves," he added. "But by consistently identifying the strongest and weakest areas of the market, we can continue to take advantage of the trends that are in place now[.]"
Read the full article here: Stocks Have Rallied, Now What?