Momentum remains strong — and that matters. In the stock market, momentum often acts like fuel in a rocket: once a move begins, strong momentum can keep it going well beyond what traditional valuation metrics or short-term pullbacks might suggest.
Right now, we’re watching a breakout that puts upside targets at 6,331, then 6,350, and potentially 6,365. Momentum is stronger now than it was at the last peak. That shift in energy is critical.
Momentum isn’t just about price direction; it reflects the strength and conviction behind the move. After the brief dip on July 16, many expected buyers to back off. Instead, bullish pressure held firm. That resilience is a tell. It suggests buyers aren’t just dipping in…they’re leaning in.
In technical terms, when momentum improves even as prices return to previous highs, it often signals underlying strength and a higher probability of a breakout continuing. That’s why we believe this setup still has room to run. Buyers are stepping in with conviction, and the trend is gaining traction rather than stalling. If this energy holds, we could be looking at the start of a powerful leg higher.
