Bounce stalls despite morning gaps
Friday's rally offered a promising open with a gap higher, but there was no follow through on these gains.
In the case of the Nasdaq, there was a close above the 50-day which also picked up the 20-day MA but if the gap is to register as a true 'breakout gap' it cannot close. There was a 'buy' trigger in OBV to go with today's gain. The index is still outperforming Small Caps as it looks to build on its leadership role as the primary home for funds.
You've now read my opinion, next read Douglas' blog.
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Investments are held in a pension fund on a buy-and-hold strategy..