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Friday, March 29, 2024

Daily Market Commentary: Bulls Push On

Daily Market Commentary: Bulls Push On

Courtesy of Fallond Stock Picks 

($SPX) 

via StockCharts.com

The Nasdaq also marked an accumulation day. It’s gains were helped by the semiconductor index.

($COMPQ)

via StockCharts.com

The semiconductor index was able to do the leg work it couldn’t do yesterday, pushing away off its 200-day MA.
($SOX)

via StockCharts.com

With Tuesday’s gains there is a reasonable chance the rally will continue tomorrow, squeezing shorts out of their positions. Short positions in the Dow are perhaps most vulnerable. 

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