Let’s just jump right to it shall we, the Nasdaq put in a stellar performance today, +265 points settling in at 11991.25 as the SP +37.25 points to 3480.25 and the lowly Russell was the laggard actually losing on the day -7.20 at 1562.40 as the Dow rose +119 to close at 28,312. The Nasdaq is now at the upper end of the 5 month long channel that has seen systematic sellers take a few shots to keep this channel alive and well:
We aren’t sure what will ever slow this train, but one thing is certain, we will not be shorting it outright and would suggest options as a good way to take a safe shot if one is so inclined, which we are not!
Silver wasn’t going to be outdone by the NQ today as the $26.51 area has held and its now back solid above the $27 mark closing +$1.178 at $27.604 in the Dec Silver contract:
