Indexes Battle Brick Wall
The Market Trend Model (http://bitly.com/M_Trend_Model) continues to hold its positive bias as the Nasdaq (http://scharts.co/1HAtavT) battles against the area around the5,000 level. Likewise, the S&P 500 (http://scharts.co/1b4JwQD) is in its own epic battle with the area around the 2,100 level. So far during the week the indexes have found support at their respective 20-day moving averages as earnings season has moved into high gear.
While the market indexes have moved back and forth in a fairly tight range for the past two weeks, it is the performance of individual stocks that have been truly impressive. A brief article by Joesph Fahmy (
) best describes what could shape up as a so-so year for passive index investors and a stellar year for stock pickers: “The market averages aren’t doing much, but individual stocks in leading sectors such as Tech, Generic Drugs, Semiconductors, and Biotech are significantly outperforming.” See the full article here
.
With the market indexes grinding toward new 52-week highs, the trend is your friend until the end when it bends. As always, remain mindful of all possible outcomes and trade with the trend.
See the original article here:
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