Weekly Market Commentary: Nasdaq 100 Index to Watch

Bulls made all the running after the Thanksgiving weekend with the Nasdaq 100 the index to watch for next week.

The Nasdaq reversed the bull trap and has brought back into play the 2007 high.


via StockCharts.com

But the Nasdaq 100 is just a hop, skip and jump away from breaking the 2007 high.


via StockCharts.com

However,market breadth continues to roll over. The Summation Index was down for yet another week.


via StockCharts.com

While the Nasdaq Summation Index holds to its bull trap


via StockCharts.com

Back to the indices and the Russell 2000 finished against 2008 resistance


via StockCharts.com

While the S&P is again pressuring resistance, although well down on relative merit to Nasdaq and Russell 2000.


via StockCharts.com

Bulls don't require big gains to generate some key breakouts. The Nasdaq 100 is the index to watch, but all indices offer good upside potential if the indices can push a little higher.

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