Please enable javascript in your browser to view this site!

NAZ looks to have a date with 6500-25, then stall out

90 mins to go.  NASDAQ 100 push back to new highs looks to extend up to 6500 but lots of resistance there on Monday-Tuesdsay of next week and that would be an area to take profits while 6975-7000 is key for NASDAQ Comp-   Dollar has snapped back and just minor gains now in both WTI and Gold.   Breadth coming in nearly 3/1 positive and 6 sectors now UP more than 1%..  Healthcare, Tech, Financials, Staples, Telecomm and Industrials.. While all 11 sectors higher-   Seeing a snapback to multi-day highs in Semis.. Which is a positive.. Along with financials leading all other sectors.. Yields still very range-bound, but the yield curve has flattened out pretty dramatically again with 2s/10s making lowest close since 2008 and now at 51 bps.. So both 2 and 5 yr yields continue to rise pretty rapidly and quicker than back end-   OVerall a move up to 2700 definitely looks possible into early to mid next week and at new all-time highs, not much resistance in the short run

 

 

NDXh.gif