Dow Breaks Out; Semiconductors Pop

Published 11/05/2019, 12:21 AM
Updated 07/09/2023, 06:31 AM
NDX
-
US500
-
DJI
-
US2000
-
IXIC
-
SOX
-
INDU Daily Chart

Yesterday, Monday, it was the turn of the Dow Jones Industrial Average to break higher, joining the S&P. Despite this, the index is still underperforming against the NASDAQ 100.

Semiconductors did enjoy another big step higher, which will help Tech indices. The index is well above support and the relative relationship against the NASDAQ 100 even managed new highs.

SOX Daily Chart

Breadth metrics also saw improvement as NASDAQ Bullish Percents cleared resistance

BPCOMPQ Daily Chart

This should help the NASDAQ as it gapped higher but was unable to add to the gains.

COMPQ Daily Chart

For today, look for further consolidation of the breakouts. With the NASDAQ joining Large and Small Caps on breakouts there was nothing to stop a significant rally from emerging here.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.