Archive for the ‘DOW’ Category
Stocks continue to edge higher following the recent breakouts by the DOW and S&P 500, which are at their highest levels since June 2008. The bias continues to be bullish. There is some hesitancy on the charts, but stocks are powering higher. The DOW, NASDAQ, and S&P 500 are all up over five percent this year, with blue-chip stocks leading the pack.
Stocks continue to maintain a positive bias in January, with technology and small-caps leading the charge. The NASDAQ is up over three percent in the first two weeks of January. The small-cap Russell 2000 is up 2.30%, while DOW and S&P 500 are up about 1.33% and 2.07%, respectively, in January.
The bulls appear to be in full control at this juncture.
On the charts, the NASDAQ has joined the Russell 2000 to move above their respective previous chart highs. This is bullish, but we need to see if the indices can hold.
There is no debating the fact that stock markets are on a nice uptrend at this time on strong market breadth and bullish investor sentiment. Yet, as we have seen, you need to watch the extremely overbought technical condition and selling resistance, as stock markets edge higher. The reality is that, after the gains in 2009 and in the first quarter of this year, we need to see reasons for markets to trend higher.
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