The NASDAQ is battling against the last big high of 2001. Previous highs gave offered some minor resistance and marked points where the index either consolidated gains or pulled back after slightly surpassing the high. Overall though, it’s tough to be long-term bearish as the index breaks out from such a large triangle consolidation…
In addition, the NYSE is leading all indexes higher. The NYSE is actually at all-time highs. But the market is now approaching the upper trendline of the channel it’s been carving out since 2004.
You can lead (take) a horse to water but you can’t make it drink.
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