bull-jumping-over-fence

When it comes to bull market strength, Tech gets the nod, as it has been stronger than the S&P since 2002 (see lover right chart below).

The 2-pack below, reflects that Tech is being given the opportunity to jump over key levels.

ndx-and-ndx-spy-ratio-testing-breakout-levels-dec-1

CLICK ON CHART TO ENLARGE

NDX 100 is testing highs hit back in 2000 at (1). Did the NDX 100 last month create a “Doji Star” topping pattern, back at 2000 highs at (1)?

At the same time the NDX is testing breakout levels at (1), the NDX/SPY ratio at (2) is testing the underside of dual resistance levels.

Tech is testing key breakout levels at (1) & (2) at this time. For the broad market to continue to set new upside records, it wants/needs tech to breakout and jump over these key levels!

 

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