The Nasdaq didn’t lose ground, keeping its breakout run intact. Technicals are net positive with no bearish divergence to be concerned about.
The S&P remained flat as the successive days of gains narrowed to today’s small doji. The next move is likely to be a loss, but when selling does occur it will be important for breakout support at 4,288 to hold.
The Russell 2000 did give back a little more gronnd, but did so on light volume and is shadowing resistance in preperation for a breakout. It’s looking ready to lead.
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.
SOURCE: Fallon Financial Commentary – Read entire story here.