We had another day of the Dow Jones Industrial Average and S&P 500 Index printing fresh all-time highs even as the momentum leaders housed largely in the Nasdaq Composite Index and Russell 2000 faced another bout of heavy selling pressure. Headed into next week, the main issue is how this spread will resolve itself. Judging by today’s action, bears may finally have more than just a hope and a prayer, especially given the morning gap higher which faded quickly.
It was an intense week, if only for the various ways in which I shuffled around my chips inside our 12631 Trading Service, which @RaginCajun and I direct.
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Have a great weekend!
I am on it; will be subscribing this weekend…good work
Thank you. Much appreciated. Look forward to working with you. Have a great weekend.
Chess, Don’t know if you have talked about this already, on the monthly chart the COMPQX is banging up against old 2000 highs. I think a definite correlation to recent nazzy action. Your analysis always welcome.
Yup, discussed it a bunch. Summer 2000 highs are key here. Overhead supply last stand chance for bears.