COMPQ Nasdaq Composite Daily Chart Shows Price Matching 2001 Highs
Today the Nasdaq Composite, COMPQ, a broad-based index, has joined the XLK Technology Sector and NDX Nasdaq 100 with printing highs not seen since 2001, eleven years ago! This is a huge feather in the bulls cap and these new eleven year highs verify the strength of the tech sector, which further launched off the AAPL earnings in January. This tech strength, along with accommodative China news, and a quiet Europe lately, has created this upside push.
Markets are toppy currently and a pull back is in order. With the recent momo, however, prices will likely revisit these highs again to burn off the upside energy in place. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Are you the same person who writes for the KeyQuant blog?
ReplyDeleteHello Alex, The Keystone Speculator and Keybot the Quant web sites are sister sites. The Keybot the Quant site focuses on the algorithm printout only and the continuous long/short call on the markets as the year proceeds along. Keybot charts the most smooth path thru the trading year oscillating between long and short positions.
ReplyDeleteThe Keystone Speculator site here is focused on technical analyis (TA), charts, market commentary, economics and other such trading information, for educational and entertainment sake.
But, yes, it is all one big happy family and Keystone is the ring leader. The concepts, techniques and signals presented on the sites, as well as the algorithm, was designed and developed by good ole Keystone over many years of trading.
But Keybot? Well, let's just say that Keybot is simply a robot, trading without emotion since all it sees is 1's and 0's.