Market Commentary – Breakout in NDX,COMPQ / SPX Approaching Resistance
The following commentary discusses the state of the minor and intermediate trends in the major US indices. It highlights yesterday’s new closing highs in both the NASDAQ 100 (NDX) and NASDAQ Composite (COMPQ) indexes, and identifies the next overhead resistance level in the S&P 500 Index (SPX). The report depicts an overall bullish composure in equities, as a result of a positive signal that occurred in SPX in May, which signaled significantly higher levels.
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