The NASDAQ certainly looks and feels like it wants to bust up out of the downtrend channel it’s been in since January. It’s resting right on the trend line and just below its 50-day moving average. It seems like it’s a perfect setup to either blast off or roll over and die after tomorrow morning’s jobs report. There also seems to be pretty good support at 2020, so if we sell off tomorrow morning I’ll be watching to see if that level can hold again.
Those other small & mid cap indices (the BKX too) just keep right on humming as they stay near or at all-time highs.
