For the Nasdaq 100 I redrew the channel to account for the slower ascent. With that redraw there is a potential short play / swing trade with the small doji at resistance. However, technicals are all bullish so aside from the possibility of channel resistance there is no clear support for a short trade - so if opting one, keep the stop tight (or alternatively, buy a break of the channel).
The Semiconductor Index consolidated its breakout with a small candlestick at the upper end of yesterday's candle. A MACD trigger 'buy' looks to be just a day away - if this comes through then I would expect the Nasdaq 100 to break upside beyond its channel.
The S&P posted a new closing high as it moves into a challenge of October all-time highs. You can see on a weekly chart how important this break of resistance is.
For tomorrow, watch the Nasdaq 100 and Russell 2000 for leads; bears will be looking for a push down from the channel in the Nasdaq 100; bulls will want a strong move through the 20-day MA of the Russell 2000.
It was a good day for the stocks featured in invest4success as six of the seven posted gains.
You've now read my opinion, next read Douglas' blog.
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