12.3 C
New York
Friday, April 19, 2024
HomeCharts
ChartsNews

Stock Market Commentary: Indecision in Primary Indices, but Breakout in Semiconductors

By Chart School
0
109

Stock Market Commentary: Indecision in Primary Indices, but Breakout in Semiconductors

Courtesy of Fallond Stock Picks 

While the Nasdaq, Nasdaq 100, Dow and S&P did very little today – each closing on neutral doji on lower volume, there was something more from the semiconductor index. The SOX managed a decisive break from its declining channel and is well placed to challenge 52-week highs c337.


Strength in the semiconductor index should help the lagging Nasdaq and Nasdaq 100.

The Russell 2000 crept over its 50-day MA but is still contained by a trading range and has work to do if it is to challenge Sep/Oct 52-week highs.


If markets are to push higher they will need to so quickly or momentum will be lost – todays’ doji were such instances of stalling momentum for the leading indices.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

157,351FansLike
396,312FollowersFollow
2,290SubscribersSubscribe

Latest Articles

Load more

Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Contact us: support@philstockworld.com

© Copyright - PSW, LLC.

2024
0
Would love your thoughts, please comment.x
()
x