Daily Market Commentary: Nasdaq and Dow Breakout
Well, half of what I suggested might happen, happened. The Nasdaq effectively limped a breakout, but the Dow had a far more enthused push higher. If there was a red flag for either of the breakouts it was the lack of volume, but given the extent of the moves there is room for some give back while maintaining the breakout. The Dow closed bang on its 50-day MA, which is another resistance level, but the breakout is of greater significance than resistance at its 50-day MA.