I am not advocating the purchase of CSCO; I am not a breakout trader anymore. I want to buy at support. (o:>* I was just looking at some charts to get a feel for what the NASDAQ is doing in here today and was struck by CSCO's chart.
Seems it, the NASDQ, has diverged from th e other indexes. Where they were strong before, and it weak, now the others are showing weakness while it strength. Cross currents.
Today, the other indexes made higher highs that did not hold the close on lower volume; brearish~ implies a reversal. BUt the NASDAQ had a bullish trend line break. Rotation?
I am still bullish provided the NASDAQ continues up and stocks like CSCO break out on volume. If S&P sells off a tad here on light volume as the NASDAQ decides if it wants the highs, that'd still be OK. But ... things still ify here at this "top". Wish the market would just decide already. I have my tax stuff to get together. I can't be watching like I have been recently. S&P NASDAQ NYSE ~ higher high on lighter volume! Big Cap TEch SPDR also looking strong to me.
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