SOX to lead markets higher.......

SOX is showing leadership in being the first sector to close above 50 DMA, a very good sign, in good old days, it was said, as Semis GO, So Goes the Stock market.....

Let us peek through RSI and see what it is telling us :

RUT          57.79

SOX          57.44

Nasdaq      54.98

S&P 500    53.52

DOW         52.72

As you can clearly see that RUT & SOX are the leaders.......

SOX above 50 DMA and RUT is ready to jump above

Nasdaq also ready to jump above 50 DMA

S&P 500 also ready to jump above 50 DMA

DOW is the laggard, in last rally DOW was the leader

With SOX, RUT & Nasdaq showing strength, what is not to like about this TAPE..

IF you look @ charts of many stocks, there are clear cut leaders and some are taking rest to jump ahead.....

Rotation is taking place on a daily basis, perfect environment to be a day trader or swing trader, those terms were out of our analysis for a long time...

Please look in SOX area to find leaders

Cloud also behaving well.

SO...it is the technology stocks all over again......

Please do your own due diligence and ensure your comfort level.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed