First it was the Dow. Then the S&P and Russell. Last week it was the Nikkei. I think it is about time for the Nasdaq to catch up.
The 10 dma turned higher days ago on all the Dow, S&P and Russell. The 10 dma turned up yesterday on the Nikkei. All of the other indexes are well above the 50 DMA. Once the NASDAQ can break through the 50 it will catch up in a hurry.
The ES, NKD, Dow and Russell are all well above the 50 DMA. In fact, only the S&P ever closed below it. The NQ has been very difficult to trade, with tech stocks being so highly valued during this pandemic, which is why we recommended trading stocks in the Russell. We still like the Russell but the Nasdaq should become much easier to trade as it catches up to the other indexes.
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