Friday, August 08, 2008

NASDAQ Leads The Way Higher



Above is a daily chart of the NASDAQ, S&P and Dow Jones Industials. All 3 indices are trending higher with the NASDAQ leading the way. In my opinion the Dow hasn't cleared resistance as of yet and the S&P is testing its 50 day moving average. Only the NASDAQ has posted a solid close through its 50 day moving average.

In order for this up move to continue I think we need to see the financials participate more in this rally. We'll see what happens next week.

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