<<the Nasdaq is up against some pretty firm resistance here, so it has a decent chance of entering a good correction now>>
Just what resistance is that? 5000? I thought you and some others said that 5000 was just another number and no big deal? Surely it is not truly "pretty firm resistance." If it is truly "firm resistance," then its momentary pass through it today probably deserved extra attention.
While the NASDAQ may correct, as it often does, that, IMO, will have little, if anything, to do with any "firm resistance." Frankly, I don't think there is any significant resistance at 5000 and it is just another number as were 3000 and 4000.
The fundamental differences between the primary DJIA stocks [old economy] and the primary NASDAQ stocks [new economy] did not change today. In fact, if anything, today's continuation of the DJIA sell-off just magnified the differences and is likely to lead to more money fleeing the DOW for the NASDAQ.
Troy |
