A Breakout Day For The Stock Market

by Geoff Garbacz | 05/09/2018 02:45 PM
A Breakout Day For The Stock Market

Yesterday we wrote about the Jim Morrison Trade and breaking through to the other side. Today we have done so on the NASDAQ 100 via the QQQ
and the Russell 2000 via IWM.

The April 18th high on the QQQ was $167 and at 2:40 p.m. EDT that ETF is now at $167.73. A failure to close out the day above $167 would be a problem.
In a similar vane, the IWM April high was $158.38 and is at $158.94.

Work still needs to be done on the S&P 500 via SPY. Its April closing high was $270.37 and currently SPY is at $269.59.

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