Dow & S&P 500 have made series of new all time highs, but Nasdaq has been making steady progress towards new all time high, Russell is the big laggard.
Here is summary of Nasdaq and Russell :
Nasdaq closed @ 5100.16, all time high 5231.94....131.78 points to go or 2.58%
Russell closed @ 1212.89, all time high 1296.00....83.11 points to go or 6.85%
It is clearly evident that small caps are struggling the most.
This market is rewarding Dow & S&P 500 stocks for a long time......
There is a very good chance that, Nasdaq may hit new all time high this week......
Once Nasdaq makes it into record book, then expect euphoria to set in and new money will be in tech.
VIX @ 12.02...is the biggest threat to this rally, 10.88 is 52 wk low....VIX may give temporary pause to rally.
VIX may trade in a 30% range.....11.50 to 15.00
Overall tone of this market is healthy, with internals looking very good.
BUT...it is important to book profit and stay with strong stocks which has rested and has low RSI.
It is becoming a traders market again......
Important earnings are this week, Tuesday AAPL & TWTR, FB & NXPI on Wednesday, GOOG, AMZN, BIDU on Thursday
Many stocks are sitting for breakout except few laggards.
Good luck with your own strategy and comfort level.
BLOG does NOT give buy or sell.
Saleem
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