Relative strength picking up for some of the cyclical categories, especially energy and agricultural materials. 

This is an event-filled week with earnings and the much-anticipated Fed meeting. Tech companies are due to report this week… 

The Dow and the Nasdaq each approaching my trading-range targets of 32,000 and 12,000 respectively. 

The Dow and the Nasdaq each breaking out above their respective 50-day moving average levels and doing so convincingly from a technical perspective. 

Yesterday’s trading action didn’t bring much to the table technically, but the 50-day moving average levels did play a prominent role for the major market indices. 

Since early May, one of the best-performing sectors has been healthcare but one of the worst-performing groups has been the financials; I mention this because this week kicks off the 2Q earnings reporting season.