Courtesy of Declan Fallon
Market Breadth hasn’t reached overbought conditions, supporting the idea for further gains. The Percentage of Nasdaq Stocks above 50-day MA hasn’t broken the 70% barrier. And technicals are not overbought.
The Nasdaq Bullish Percents successfully back tested support, with plenty of room for upside.
All indices are rallying within themselves, so there is no obvious signs for a top.
Another week – another opportunity to build on past strength?
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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com. You can read what others are saying about Zignals on Investimonials.com.