Sunday, December 05, 2010

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.



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



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



While the Nasdaq Summation Index holds to its bull trap



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



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



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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