by winston » Mon Apr 08, 2019 6:28 pm
CHARTS
SP500: 7 days upside in a row, adding to that longest win streak in over a year. Well over 2800 and now it is countdown time for the August 2018 penultimate high (2916.50) and the September/October small twin peaks (2940.91) that set off the October through December selloff.
Low volume as it approaches those highs just 24 and 48 points away. That makes it more difficult to break through major resistance, but of course you would expect SP500 to perhaps pause at those levels and test a bit, particularly if it continues directly to them on this already solid price move.
NASDAQ: After a Thursday pause, NASDAQ cracked just above the late July penultimate high (7933) and now is entering the August to early October consolidation and small double top similar to SP500's peak (8133.30; closed at 7938.69).
As with SP500, volume is running light on this move whereas on the March run at least trade was bouncing around average. Low volume approaching new highs is problematic, but as with SP500, with a run such as this, a bit of a pullback as NASDAQ hits the later resistance levels is normal.
DJ30: The Dow is through the November peak with a nice Thursday move and a somewhat equivocal doji Friday. It is still below the January 2018 peak (26,616.71) and of course the September interim high and the October all-time high (26,952). Volume is rather pathetic. No, it is pathetic, coming in well below aver
Source: Investment House
It's all about "how much you made when you were right" & "how little you lost when you were wrong"