What Could Keep the Rally Going Even as Energy Rises?

• S&P 500 and NASDAQ-100 each hit new all-time highs, with the S&P 500 closing up 0.84% for its 6th straight winning week.
• Technical analysis of E-Mini S&P 500 futures and the MAGS (Magnificent 7 ETF) shows bullish MACD crosses and breakouts from bull flag formations, suggesting continued upward momentum.
• Energy products like Diesel (HO) are in a bullish flag formation, and 10-year Treasury Note futures (/ZN) are at the lower end of support, implying yields could move lower, which would be favorable for equities.
• Upcoming CPI and PPI data next week are expected to be in line or slightly lighter than street expectations, likely fueling the equity rally, with geopolitical risk identified as the main wildcard.

The S&P 500 and NASDAQ-100 reached new all-time highs, with the S&P 500 closing its 6th consecutive winning week. Technical analysis shows bullish setups for major indices and the Magnificent 7 ETF, indicating potential for further upside. Energy products also show bullish trends, and stable yields are expected to support equities, despite geopolitical risks.