A Split Decision
1st June 2008
Are technology stocks and the NASDAQ going to succeed in pulling this market up again, or will the DJIA lead this market back down?
The NASDAQ chart looks strong with its second close above its 200 day MA in the last month.
The DJIA, on the other hand, is still being held back by its 50 day MA, never mind its 200 day MA.
The SP 500 is stuck in between the two after weakly bouncing off its 50 day MA earlier in the week.
The one thing that does seem to be apparent is that bonds are taking a hit since the FED pretty much confirmed that interest rates will not be getting any lower.
The bear call spread ideas I suggested 10 days ago still look good.
JD