Sunday, October 03, 2004

Russell 2000 breakout is significant

chart courtesy of

Russell 2000, small cap index broke out on friday, after a 7 month consolidation. This is a strong indication from that Market that it want to go higher. If this falls below 575 . then it's a false breakout. Posted by Hello

Friday, October 01, 2004

SOX Breakout

SOX breakout chart Posted by Hello
Semiconductor Index has broken out of its trading range. It looks like the market might push to the upside since semicondutor going up creates bullishness in traders.

Thursday, September 30, 2004

Stocks in sideways movement

The stockmarket closed today with the indexes closing mixed. Dow was down on the big drop of Merk, but Nasdaq was up on the strength of Technology stocks. But Nasdaq wasn't up much indicating that there's some selling pressure in some of stocks expect semiconductor.
Tomorrow we will see if Nasdaq can maintain the upswing it had for the past couple of days. If not we will see more down days . If the market can create some upside momentum there's a chance that the Market make a good upside drive to meet the old highs before topping out.