Wednesday, September 29, 2010

Daily Market Commentary: Repeat of Monday

While Large Caps and Techs (other than semis) had a quiet day it was again up to the Russell 2000 and Semiconductors to do the leg work.

The Russell 2000 added a little distance to yesterday's breakout. Less than 0.5% added but it was enough to give the breakout more respectability.



Better still was the push above the 200-day MA for the Semiconductor index. Somewhat surprised it didn't bring more dividends for the Nasdaq or Nasdaq 100.



It's still looking good for bulls despite the quiet day. Watch for follow through upside in the Nasdaq and Nasdaq 100 following today's gains in the semiconductor index.

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