The Nasdaq broke above it’s resistance of 1600. This is something it has failed to do four times in the last two months. It also broke above its descending 50-day moving average. Although the breakout was on low volume, it should bode well for the technical condition of the market. Other major indices also followed suit. Treasuries sold off today which is good indicator that investors are starting to take more risk. The clear leaders were commodities, energy and technology all of which were down significantly last year.
Allgen has been selling out of some bonds recently in order to reallocate back into the stocks.
For professional investment advice on this topic contact: Allgen Financial Services, Inc.
888.6ALLGEN (888) 625-5436
advisors@allgenfinancial.com www.allgenfinancial.com
The link below will take you to an interesting technical video of the actual market conditions. Please allow a few seconds for the video to load in your screen.
For professional investment advice on this topic contact: Allgen Financial Services, Inc.
888.6ALLGEN (888) 625-5436
advisors@allgenfinancial.com
www.allgenfinancial.com
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