How lazy and demanding have we become? With the S&P 500, Dow Jones Industrials and Russell 2000 making new all-time highs all we can talk about is why the Nasdaq 100 is lagging. Lagging? It reversed out of its pullback last week and has been up 4 out of the last 5 days. Monday it closed less than 25 points from its all-time high at 6004.
Yes it is currently the only major index not making a new all-time high. But did you forget about the Russell 2000 from 2 weeks ago. It was lagging for 2 months before it started higher. And it was the Nasdaq 100 that paved the way. A short brief rotation from the Nasdaq 100 into the Russell 2000 giving it strength. Like a big brother letting the little brother catch up and take a lead for a while.
The Nasdaq 100 will be back. Have a little patience. This market with its long periods of low volatility and sideways consolidation lulls you to sleep. Then, when you are looking away a major move happens. Don’t look away. The Nasdaq 100 looks strong. It has momentum on its side as it continues to make higher lows and higher highs.
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