Yesterday’s market action was positive.
The Nasdaq Composite made another new high and this time it was accompanied by above average trading volume. When an index makes new highs on above average trade it means there is institutional demand for stocks at these levels.
The Nasdaq Composite’s big brother, the Nasdaq 100 also made a new high and continues to lead the indexes and the general market higher. For now, the 100 remains the index to watch for clues of future market direction.
With sector performance, India outperformed, natural resources and global resources matched the market and Russia (RSX) underperformed.
Leading stocks behavior was positive.
In summary from how the market has been recently acting, my opinion is it will probably go higher.
