Articles By: Dr. Declan Fallon
While the Nasdaq lost some ground by the close, it does have the help of an ever improving Semiconductor Index.
There was to be no comeback by bears after Tuesday’s rally supreme.
Well, it didn’t last long. The ‘bull traps’ created in the Russell 2000 and S&P yesterday were dissected by today’s open.
Somewhat inevitable events in the Ukraine were going to nix the nascent breakouts for the S&P (NYSEARCA:SPY) and Russell 2000 (NYSEARCA:IWM)
No surprise to see the S&P stall out as it challenged prior highs around 1,
The shortened week started where it left off, with gains all round
The Dow was the most bearish of the indices heading into Friday, but despite the lighter volume it was still able to push above resistance
The semiconductor index ultimately offered a peek into what happened today.
A surprising show of strength after three days of gains
It was relatively low key, but the Nasdaq and Nasdaq 100 were able to post a third day of gains.