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Daily Market Commentary: Semiconductors Gain, Nasdaq At A High

Published 08/31/2014, 01:53 PM
Updated 07/09/2023, 06:31 AM

Markets finished Friday on a flourish with a close at, or near new highs. Volume climbed to register an accumulation day, which keeps thing ticking over in favor of bulls over the long weekend.  The Semiconductors had the best of it, although these gains were posted at the open.

SOX

Gains in the semiconductor index helped the NASDAQ close at a new high - Technicals remain strong too.

COMPQ

The Russell 2000 remains inside the rising channel. The push from Thursday's tight action has swung in favor of bulls. - further gains remain favored.

RUT

The S&P is similarly in a good position, although Friday's gain wasn't as good as the Russell 2000.

SPX

Tuesday is set up for upside follow through following Friday's bullish reaction to Thursday's tight intra-day action.

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