Looking At The Nasdaq

Having a look at the weekly Nasdaq Bullish Percent We can see that no matter what analysts or gurus out there are saying, or fiscal cliff news, we are more than likely to see higher prices coming in the next few weeks. We are at 52 and there is room to move to about the 60 area before becoming overbought.

Nasdaq Bullish Index

Nasdaq daily (or the leader of the market) is still forming the right side of the inverted head and shoulders. Sometimes jostling on the market takes place when this occurs, and we could experience more 'Choppiness' however, this should resolve soon. There is a clear case here, that the bulls are still winning the battle. Nothing much has changed, and we expect higher prices soon. 

Nasdaq chart

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