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Market Commentary – March 8, 2010
The mixed signals continue…
The NAZ has broken out on its Daily chart and is close on its Weekly. However, both the DOW and S&P are not that close yet, and both are also looking weaker on their longer term trends.
With the NAZ leading the way the question becomes can it drag the others along with it, or… will the LT overhead resistance of the DOW and S&P doom the rally. We think at this point that we will likely have to wait for earnings next month before this picture becomes clearer.
It looks like mostly sideways action for the near-term.
Coach BD