Dow Struggles Continue As Tech Breakouts Hold
Declan Fallon | Mar 13, 2018 12:55AM ET
There wasn't a whole lot going on yesterday which was different to Friday. Breakouts in the NASDAQ, NASDAQ 100 and Semiconductor Index remain in effect while the Dow Jones Industrial Average took an early hit in profit taking but on lighter volume. Relative performance remains particularly ugly.
The Semiconductor Index, NASDAQ and NASDAQ 100 all finished with a spinning doji which maintained the status quo without threatening the breakouts.
The Russell 2000 performed well as it looks to make it back to the last swing high. There is plenty of wiggle room to protect the break of the February swing high.
For today, traders will be looking for more of the same. Shorts can probably get more aggressive with the Dow but wannabe longs will need to wait for a pullback in Tech indices to get their opportunity.
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