Thursday, 16 April 2015

Nasdaq getting close

The Nasdaq Comp' saw a net daily gain of 33pts (0.7%) to 5011..  mere 121pts (2.4%) from breaking the March 2000 tech bubble high of 5132. A monthly close in the 5200s would be hyper bullish for the broader market, and be suggestive of a straight run to the 6000s by year end.


Nasdaq comp' monthly'2



Nasdaq comp' daily



Summary

New historic highs were hit today in the R2K and NYSE Comp'. The rest of the indexes - including the Nasdaq Comp', look set to follow in the near term.

Any monthly close in the 5200s would be a powerfully bullish signal, and bode for continued upside.. at least into Sept/Oct.
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Looking ahead

Thursday will see the usual weekly jobs, housing starts, phil' fed.

*there is a quartet of fed officials on the loose... one of which (Rosengren) is even in my home city of London.
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Goodnight from London