Dow Breaksout
Monday it was the turn of the Dow Jones Industrial Average to break higher, joining the S&P. Despite this, the index is still underperforming against the Nasdaq 100.
Semiconductors did enjoy another big step higher, which will help Tech indices. The index is well above support and the relative relationship against the Nasdaq 100 even managed new highs.
Breadth metrics also saw improvement as Nasdaq Bullish Percents cleared resistance
This should help the Nasdaq as it gapped higher but was unable to add to the gain.
For tomorrow, look for further consolidation of the breakouts. With the Nasdaq joining Large and Small Caps on breakouts there was nothing to stop a significant rally from emerging here.
You've now read my opinion, next read Douglas' blog.
---
Accepting KIVA gift certificates to help support the work on this blog. All certificates gifted are converted into loans for those who need the help more.
Follow Me on Twitter
Investments are held in a pension fund on a buy-and-hold strategy.
Semiconductors did enjoy another big step higher, which will help Tech indices. The index is well above support and the relative relationship against the Nasdaq 100 even managed new highs.
Breadth metrics also saw improvement as Nasdaq Bullish Percents cleared resistance
This should help the Nasdaq as it gapped higher but was unable to add to the gain.
For tomorrow, look for further consolidation of the breakouts. With the Nasdaq joining Large and Small Caps on breakouts there was nothing to stop a significant rally from emerging here.
You've now read my opinion, next read Douglas' blog.
---
Accepting KIVA gift certificates to help support the work on this blog. All certificates gifted are converted into loans for those who need the help more.
Follow Me on Twitter
Investments are held in a pension fund on a buy-and-hold strategy.