Second year of bull market is intact, analyst says

Major indexes (^DJI, ^IXIC, ^GSPC) are trading flat on Tuesday, falling short of recent highs. Joining Catalysts to discuss this market dynamic is Oppenheimer Head of Technical Analysis Ari Wald.
Wald notes that when observing the volume line trends for markets, it shows that the "volume into advancing shares is outpacing the volume into declining shares", indicating that "investors are accumulating stocks, rather than distributing them." He argues that this trend proves that stocks are set for bullish momentum in the second half of the year, advising investors to buy market pullbacks "in anticipation for higher market highs over the coming months."
On the small-cap front, Wald highlights a key difference from 2023, stating that "the Russell [2000] (^RUT) has been able to hold its 200-day average." Although it has not been able to sustain a market rally breakout, he notes, "it could just be a matter of time," suggesting that in the second half of the year, there could finally be "a broad-based breakout in small caps."
"What we have seen is this large-cap led move to the upside, and I'm okay with that," Wald tells Yahoo Finance, adding, "but we do need small caps to participate in absolute price terms."
#news #youtube #stockmarket
About Yahoo Finance:

Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.

- Get the latest news and data at finance.yahoo.com

- Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)

- Follow Yahoo Finance on social:

X:   / yahoofinance  
Instagram: https://www.instagram.com/yahoofinanc...
TikTok: https://www.tiktok.com/@yahoofinance?...
Facebook:   / yahoofinance  
LinkedIn:   / yahoo-finance