Daily Market Commentary: Up Down Up Down
The gain in the Nasdaq (and Nasdaq 100) was helped by the solid drive in the semiconductor index. There is a pending 'buy' signal in the MACD trigger line as it closed at a new high.
Given the push higher in the semiconductors the probability for further gains over the coming days remains high. Market Breadth continues to diverge (bearishly) to parent indices, but this state can remain in play for a number of months before markets catch up. Bulls maintain control.
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