
IS IT ALL CLEAR FOR INVESTORS? NASDAQ BREAKS OUT – SEASONALLY THE BEST TWO WEEKS AHEAD
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Breakout
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The chart shows that after backing and filling, Nasdaq has broken out again.
- The chart shows the breakout is on low volume.
- This indicates a lack of conviction.
- The pattern lately has been that the volume is high on down days and low on up days. This indicates that as the market goes higher, distribution is taking place. Ideally, when the market goes higher accumulation should take place.