Yes, John, the strength of the techs and small caps is telling. Your note reminded me that the updays string together in three, fours and fives, with the down days one strong one, usually followed by, at worst, some flat and then up again.
This breach of 200 day on Nasdaq/RUT, if it holds, bodes well for the usual small cap rally into January,right?
I've been looking too much at the fundamental weaknesses of techs lately, to be sure, and it's taken my eye off the obvious strength. At this point, it has become irrelevant where the money is coming from to fuel this rally, for trading purposes, it's simply there, ergo, follow the trend.
These tutorials on inter-index relationships are very enlightening. Thanks for your thoughts,
Regards,
James |
