It’s the Dow vs. NASDAQ
Jea
Yu has been involved with the equities markets for over 10-years. He specializes
with intraday trading in the U.S. equities and futures markets. To receive a
free 7 day trial to Jea Yu’s Underground Trading Pit,
click here or call 888.484.8220 ext. 1.
The Dow making new five year highs may be
impressive, but the Nasdaq is really struggling. The semis and the internets are
key weak sectors holding down the Nasdaq and subsequently the
(
QQQQ |
Quote |
Chart |
News |
PowerRating) and
noodles. In short, the bulls are pulling up the
(
DIA |
Quote |
Chart |
News |
PowerRating) and the bears are
pulling down the QQQQs. Ultimately, one side will have the leadership status,
the question is which? While the DIA has been grinding away with weekly and
monthly mini pups, the QQQQ’s up until this week as been declining with weekly
mini inverse pups.
If the Nasdaq gets pulled up by the Dow by
crossing the stochastics back up then look for the laggard sectors to turn.
(
EBAY |
Quote |
Chart |
News |
PowerRating),
(
YHOO |
Quote |
Chart |
News |
PowerRating) laggards. The semiconductor makers are also lagging
(
BRCM |
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PowerRating),
(
MRVL |
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PowerRating),
(
KLAC |
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Chart |
News |
PowerRating).
(
AAPL |
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Chart |
News |
PowerRating) and
(
SNDK |
Quote |
Chart |
News |
PowerRating) are laggards also however, if the
Nasdaq ends up bringing down the Dow, then those are two key weekly mini inverse
pups to consider on the short side with resistances on the weekly 5 period ma’s
at 67.66 and 56.40 respectively.
Jea Yu