S&P And Semiconductors Breakout
Market divergences continued to play out. This time, the S&P and Semiconductors broke clear in fresh breakouts, but the likes of the Nasdaq and Nasdaq 100 haven't yet followed Semiconductors higher.
The S&P cleared the last swing high, but still has August highs to breach. Technicals, outside of On-Balance-Volume, are bullish.
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The Nasdaq finished higher but hasn't yet marked new all-time highs. As with the S&P, technicals - other than On-Balance-Volume - are bullish.
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Finally, the Russell 2000 finished with yet another higher close. There can't be much juice left in the tank before traders take profits.
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The next thing to look out for is what will happen when sellers do take up the opportunity gains since Trumps' election have delivered. From a charting perspective, these gains do look artificial.
Disclosure: None.
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