Yesterday's market action was positive.
The Nasdaq Composite pulled back 0.19% in below average volume (Point A).
When volume is below average, it means institutional were sitting on their hands and reluctant to sell stock. Yesterday's pullback was therefore healthy, normal and natural.
Leading stocks action was positive. A greater number of leaders were rising in heavy volume compared to those that were falling in heavy volume. When you see this happen on a market down day, it is classed as a bullish divergence.
The Nasdaq continues to work on the handle it started to build on the 20th August (Point B). This handle is now over two weeks in duration.
The good news is the longer the handle takes to complete the more explosive the breakout can be when it occurs (Point C).
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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.
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