Saturday, September 02, 2017 12:21:50 PM
The Nasdaq 100 ETF (QQQ) was leading the market going into the summer and it is again leading the market as we come out of summer. Led by new highs in Apple, Adobe, Biogen, Intuitive Surgical, Microchip Technology, Microsoft and Paypal, QQQ broke out on Wednesday and surged to a new high in Thursday. The August decline was always viewed as a correction within a bigger uptrend and the breakout signals an end to this correction. The August lows and March trend line mark first support in the 140 area.
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