Nasdaq Shows Its Cup & Handle

”Wall Street people learn nothing and forget everything.”  Benjamin Graham

Another choppy day for the most part as stocks perhaps setup for a move higher after some consolidation and same goes for the markets.

The Nasdaq looks exceptional here with a cup and handle so let’s see how that plays out.

We do have some divergence so it’s not a guarantee that w move higher.

I’m seeing strength in the TLT, which is often bad for stocks, while the US dollar has been weak, until a potential reversal today, which is usually good for stocks.

The SPY ETF is holding but may roll over.

A move above 212.50 is positive while a break below 211 is a negative move.

Stocks are not showing special strength by any means at the moment so I’m not heavy at all having just some AMZN and LNKD but QQQ has a great, positive looking chart, and if it breaks higher I’ll looking to get into stocks in a big way.