Wednesday, April 02, 2008

Market Breakout

Kevin over at Kevin's Market Blog said it best on his Dow Theory watch; Dow followed Transports higher.

While the Semiconductors did their bit to support the Nasdaq 100 with a breakout of their own:

But there is the question as to what volatility (and fear) will do now there is a test of the 200-day MA? Will profit takers emerge? Or will the 200-day MA turn from support into resistance, thus supporting a more substantial rally than previous corrections in this indicator have given?