SP500 is showing modest range trading all session but the stock indices look to be closing on an up note, rallying to the session highs as the closing bell approaches.
The other indices? RUTX has surged to a new high, DJ30 has added to its new high, SP400 cleared the 2015 high. SOX retook its trendline thanks to a huge 30% NVDA surge. NASDAQ is up but kind of muddled.
After a pause chips look good so picking up some MU. MLNX is good, but faded from the 200 day; will see what Monday brings for it. NVDA of course returned a nice gain for us.
SP500 is about the only index testing a bit. That works and would love to see the other indices take at least a pause for a day or two; they don't even have to test, just take a breather. When they start back up that tells you the buyers caught their breath and are back on. We will be looking for possibilities with that kind of move this weekend.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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