The Nasdaq broke its bearish trend line

The Nasdaq Composite, that previously had been weaker than the S&P or Dow, broke its bearish trend line on Friday. A handful of technology companies reported positive earnings reports and their stocks shot higher. This included CRM, AMAT, and NVDA,. Will the Nasdaq energize the whole market higher? The extremely high valuation of stocks cannot be ignored.


My relative-strength stock sector table shows big gains the Technology Group’s  Software and Semiconductor sectors. But, Telecom, and Bio-technolgoy, also within this group had big losses. The Cyclical Group got slaughtered. The Auto Sector off a humongous 5.6%, Basic Materials off an even bigger 10.4%, Media down a very-large 3.7% and the Leisure Sector down 2.7%. The overall Cyclicals Group was the biggest loser at -2.92%.


Here’s the chart of the S&P 500:


Put in your name and email for our
free weekly stock newsletter

You'll get:

* Weekly Emailed Stock Market Analysis

* Trading Educational Tips - once or twice a week



  • Every trader, no matter how good, has losses.


    The only ones that don’t are Ponzi schemes.

  • What kind of results will I get?


    You’ll get more wins than losses and average gains bigger than losses.

  • But, you need more than just good trades!


    Too much risk leads to disastrous losses.

    Geometrically increase your results with the correct use of risk.

  • How do I get started?


    Click subscribe (on the menu) and make a selection.

    Submit and you’re set to go once you receive a return email.