Yesterday's market action was positive.
The Nasdaq Composite gained 0.02% in above average volume (Point A).
Even though the Nasdaq didn't really do that much, it was good to see it finding support for a second day running at its cup with handle breakout point (Point B).
The S&P 600 continues its winning streak, ending the session at a new 52 week high (Point C).
Leading stocks action was positive.
Ideally from this point I would like to see the Nasdaq gathering its strength for another attempt at breaking through and then staying above the 3134 level (Point D). The good news is every time this level is hit it does weaken it.
If on the other hand the Nasdaq does take a breather from these levels I would like to see the previous resistance at 3085 becoming support (Point E).
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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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