Nasdaq comp', monthly'2
Nasdaq comp', daily
Summary
*Nasdaq comp' came within 2pts of the March 20th high of 2042
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Suffice to say, I think many are still overly dismissive of the looming significance of a Nasdaq at new historic highs will mean.
Simply put... if we see a Nasdaq monthly close in the 5200s.. whether May, June.. or July... it will be strongly suggestive of a straight move to the next psy' level of 6K.. before year end... if not by Sept/Oct.
Perhaps the market will see a 15/20% correction this autumn.. from around Nasdaq 6K.. but certainly.. not from 5K.. or even 5500.
In any case.. I can't be short the broader market.. or any given stock.
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Looking ahead
Thursday will see the usual jobs data, PMI manu', and new home sales.
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Goodnight from London