Courtesy of Declan.
It was a bit of a slow burn day. The S&P held its ground and its breakout without generating significant weakness. However, the Dow managed to post a new closing high although the percentage gain is low and volume was below average.
On the other hand, the Nasdaq 100 and Nasdaq was rebuffed by resistance as it was unable to break higher.
The Russell 2000 didn’t do a whole lot and technicals remain bullish with continued improvement in relative performance. It’s up against a minor resistance with 1,460 easily within range.
For tomorrow, bulls now have the S&P and Dow Jones Index to work with while bears have both the Nasdaq and Nasdaq 100. The Russell 2000 may grab some shorting interest but technicals suggest higher prices are favoured.
You’ve now read my opinion, next read Douglas’ blog.
I trade a small account on eToro, and invest using Ameritrade. If you would like to join me on eToro, register through the banner link and search for “fallond”.
If you are new to spread betting, here is a guide on position size based on eToro’s system.
