Dow, NASDAQ Break Out As Bulls Hold All The Cards

Published 11/21/2016, 11:06 PM
Updated 07/09/2023, 06:31 AM
US500
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DJI
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US2000
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IXIC
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I covered my short position on Monday's little pop higher in the Dow Industrials, which along with the NASDAQ, delivered new breakouts.

INDU Daily Chart
The S&P added nearly a percentage point as Large Caps looked to make back some of the ground lost to Tech and Small Cap Indices. On-Balance-Volume will likely be bullish once volume is posted to the chart – confirming a return to a net bullish technical state.

SPX Daily Chart
The NASDAQ emerged from September and October highs with a fresh breakout. Technicals continue to strengthen in support of price action, and while newly overbought the index can remain that way for a significant period of time – as it did from July through to September.

COMPQ Daily Chart
The Russell 2000 is on its 11th day of gain. Can it make it 12?

RUT Daily Chart
Bulls hold all the cards for all the indices. Complacency is now the enemy.

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