From Strawberry Blonde…….
A continued rally in the equity markets is really dependent on continued leadership in Technology, as well as a recovery in Small-Caps.
The following Weekly comparison chart of the Dow 30, S&P 500, Nasdaq 100 and Russell 2000 Indices shows that, from the 2009 lows, Technology has led the overall rally, for the most part, and, particularly, since early this year when the spread has widened considerably between the NDX and the others.
The following 60-day 60-minute comparison chart of these 4 Indices shows the NDX approaching this year’s high, while the RUT has the furthest to go to reach that point. I’d watch for any build in volumes in the NDX and the RUT on, either a rally, or any decline from this point…to confirm a commitment in sentiment, one way or the other.
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