There has been some concern from investors because the NASDAQ Composite seems 'stuck' over the last four days, as well as concerns over yesterday's alleged hangman.
First, action of the leading stocks as well as general market action over the last several days take precedent.
Second, the closing high was set on 9/24 on both the S&P 500 and NASDAQ Composite, so by definition, it is not a hangman.
Lastly, the last 2 days of this month is quarterly window-dressing time. Leaders should have the winds at their sails as fund managers will want to show that they hold leading stocks for the quarterly report.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.