All about TECH!
Impressive rally out of tech index
Only 2150 area remains as technical resistance between here and 2007 peak.
Nice breakout above April high with a an early back test.
Notice the steep trend line (dashed blue) that I added a few days ago. It held the ascent nicely.
Will techies be able to hold the US market enough for the the broader index to catch up?
From a purely technical point of view, there is nothing negative about the NDX action today. Also, it is good for the general market when a high beta like tech index does well.
It, of course, is not all about technicals. Yet, those in tech index should have a relatively easy task of arranging their stops and levels.
Have a Wonderful Friday!
S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago