The other day I wrote that the Nasdaq was in a range and likely to break out of it by the end of March. Well, here we are:
We still need to see it clear the 13600 level, but given today’s gap up I think it’s probably going to happen sometime next week.
Remember, markets are closed tomorrow for Good Friday.
Meanwhile, the S&P 500 is setting new records, clearing 4000 for the first time. It’s been a slow, steady grind higher, but it finally happened.
However, this is a bit worrying:
An ascending wedge typically isn’t a good sign.
Enjoy the long weekend, Happy Easter.