Weekly Market Commentary: Rally Continues
On the weekly charts it was a clear win for bulls. There was respectable volume as traders made their way back following the holidays. Nasdaq via StockCharts.com The Nasdaq 100 put further distance on 2,217 support as the breakout matures. The health of this index is good news for the Nasdaq. ($NDX) via StockCharts.com The Nasdaq Bullish Percents continues to inch higher but is not yet overbought (=> more gains to come for the Nasdaq) ($BPCOMPQ) via StockCharts.com While the Percentage of Nasdaq Stocks Above the 50-day MA is moving towards a slower bearish divergence; which means there is more room to run higher until resistance is reached. ($NAA50R) via StockCharts.com Even the Nasdaq Summation Index is suggesting a new (higher) resistance level to work with. ($NASI) via StockCharts.com Small Caps have cleared 760 and are looking upwards towards 850-855. ($RUT) via StockCharts.com While the S&P has in its sights the mini-reaction high in 2008 above 1,3