Highlights
- The S&P 500 is rallying into its freshly minted Quarterly Momentum Zone (QMZ), fulfilling our short‑term tactical outlook but approaching layered resistance from prior technical damage.
- A 50% retracement near 6650 aligns with the upper QMZ, where failure to repair structure would justify re‑establishing short exposure.
- The current setup closely rhymes with Q1’25, where rallies into the then freshly minted QMZ preceded sharp declines toward quarterly support.
- Long‑term Risk Gauge nowhere near to labeling recent weakness. . .
