Daily Market Commentary: Bulls Keep The Pressure On
Courtesy of Fallond Stock Picks
Small Caps again took charge and dragged Tech indices with the help of the semiconductor index. Bulls used rising support to launch their attack as the Russell 2000 added another percentage point. Supporting technicals made modest gains but are mapping bearish divergences with lower highs – but bulls won’t be complaining too much.
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The Nasdaq managed a new closing high, Thursday’s trading engulfing the narrow trading range from Wednesday. It’s nicely set up for a positive Friday.
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The semiconductor index added close to 2%, negating what was the most bearish close from the indices I track
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The strength in Small Caps and Tech filtered down to at least a positive finish for the S&P. But even here there is enough to suggest Friday could follow through higher
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Markets are nicely poised to continue higher – extended though they are. Will Amazon and Microsoft earnings be the dampner?