Nasdaq Rebuffed By Resistance
Yesterday's gains in the Nasdaq pushed above resistance to challenge the April 'bull trap', but there wasn't the follow through needed to maintain the breakout. Technicals are net positive including relative performance versue the Russell 2000.
The S&P maintained its edge breakout, with technicals net bullish, but the index relative performance to the Russell 2000 still below the average. Prior gains were enough to keep the breakout intact despite today's loss.The Russell 2000 stayed within its range, poised to breakout.
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.
Investments are held in a pension fund on a buy-and-hold strategy.
.