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Friday, March 29, 2024

Stock Market Commentary: Breakouts Stall

Stock Market Commentary: Breakouts Stall

Courtesy of Fallond Stock Picks

Tuesday was about questioning the validity of the breakouts. Today left that question unanswered. There is still the lingering issue of churn at resistance; the Nasdaq 100 demonstrated this best as it has yet to manage a resistance break:


But the Russell 2000 continued its bullish push


With the best news for bulls coming from the upside follow through in the semiconductors:


While markets look weak there is still enough juice to suggest the broader markets can go higher.

I have underestimated this market for too long to know otherwise!

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