Breakout or Shakeout ?

PUBLISHED May 20, 2023, 8:45:10 PM        SHARE

imgTom Hamilton

May 19,2023 - I’m on the road so this will be quick.

Note the chart of the NASDAQ Composite, that Yes, we did get that Breakout from the trading range last week. So far, so good. But note that it was on lower volume (see volume bars below the price bars) and I note that the vast majority of stocks & sectors moving higher we Technology related. In fact of the top 5 sectors 4 were Tech and the other Consumer Services. Sector table at: www.Special-Risk.net .

Not exactly super healthy. Overall I remain Bullish in the long term but expect a correction back to test at least the upper levels of the trading range. i.e. there’s no hurry to jump onboard just yet; be selective.

Have a good week. ………….. Tom ………….. Chart by MetaStock & table by HighGrowthStockInvestor.com; used with permission.

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