Marching To The Same Drummer
The Qs are continuing Friday’s
solid 13-minute uptrend having busted
through Friday’s high on the gap up, along with Thursday’s high on the morning
continuation. Perhaps most telling, all indices are in lockstep with one another
and all main sectors represented in the Nasdaq 100 are marching to the same
early beat, with chips, telecom, networking, and biotech all green and up volume
swamping down volume. While the Qs are approaching hourly extremes, the trend
has clearly been up and only a clear break of underlying trends would get me
terribly interested in a retracement trade on the short side.
12:00 P.M. ET
Good Trading!