Wednesday, March 10, 2010

Stock Market Commentary: New Highs for Tech and Small Caps

Small Caps and Tech continued their good form. Technicals continue to support the move higher for Small Caps (Russell 2000) with new highs for the MACD and +DI line. The Russell 2000 would have to give up 25 points (or 4%) just to test breakout support at 650.


The prior underperformance of the semiconductors was undone with today's 2% gain.


This revival helped keep the rally in the Nasdaq ticking over


But Large Caps didn't quite live up to the gains of Tech and Small Caps


Last Friday's breakout gap remains the most tempting pullback zone.

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