This is an excerpt from our Weekend Trading Review this past weekend. Worthwhile to check in with us!
NASDAQ- This week we begin with the Nasdaq Comp as it shows a great picture of what we briefly touched on in our open today. The chart shows that the index made new highs in March, May, June and late July and on each occasion it was hit with a reaction that ranged from roughly 2.5% to as much as 4.5% in July which ultimately triggered a shallow two month corrective period. We don’t make wild predictions here but we are always monitoring the market landscape so when inevitable periods volatility and corrective behavior hit the markets we are better prepared to react to it. As far as distribution is concerned, the index looks good with only two such days in the 20 session count.