Yesterday's market action was positive.
The Nasdaq Composite dropped 0.01% in below average volume (Point A).
This behavior should be seen as constructive, especially with the Nasdaq recently breaking out (Point B).
Leading stocks action was neutral.
Even though the Nasdaq's next job is to break through resistance at 3085 (Point C) followed by task 2, breaking through resistance at 3134 (Point D),I'd still be happy to see it hold at these levels and possibly build another handle before eventually proceeding higher.
What I don't want to see, especially this week, is a heavy sell off by institutional investors. Heavy selling just after a breakout makes the breakout more prone to failure. The good news is that from how the market is currently acting, the breakout should prove successful.
To view the funds I hold in my ISA portfolio click here
Please note past performance should not be used as a guide to future performance, which is not guaranteed. Investing in the Funds should be considered a long-term investment. The value of the investment can go down as well as up and there is no guarantee that you will get back the amount you originally invested.
Find out where an expert invests
Are you an ISA or SIPP investor with over £100,000 actively invested? Are you looking for better returns but are unsure which funds to invest in? Our personal investment service allows you to buy the same funds as our star-performing investor. You find out where he invests, keep full control of your account, enjoy a close relationship with a trusted expert, and benefit from the potential for attractive long-term returns.
To find out where an expert invests >>
To download our brochure >>
