The Nasdaq 100 (NDX) held up well today on lower volume. This and the larger Nasdaq Composite (COMPQ) are the strongest major indices in the US.
The SP500 Index (SPX) fell on rising volume. This is not what bulls want to see. But the three stab down formation is still bullish until the second low is taken out.
The Smallcap 600 (SML) was also down on lower volume and has a three higher lows setup (assuming the second low holds).
The semiconductors holders (SMH) had a big volume up day. A lot of the volume came in the afternoon on the price retrace. But it finished at about a 50% price retrace for the day which isn’t bad.
Charts courtesy of Stockcharts.com
Tags: Nasdaq Charts · Russell 2000 Smallcaps · SOX · Standard and Poor's 500 (S&P500) · VolumeNo Comments
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.