Can other index follow Nasdaq all time high....

Nasdaq have decisively ran up to make a new all time high.....

Other index like DOW & Russell 2000 are struggling well off their all time highs but below 200 DMA...

There is lot of debate as to where we are in this COVID-19 laden stock market.....

Confusion runs deeply after explosive growth of infection in many US state...

Nobody was thinking of first time explosion in many states who were " too cavalier " in not taking COVID-19 seriously

Commander in Chief remains reckless and dismissive about COVID-19...

Market is trying to deal with resurgence with muted reaction so far.

Many stocks which were rising on getting slowly back to some kind of normalcy has faltered badly again.....

Stay home stocks are in vogue in a big way....

US stock market needs time to gauge real economic impact of resurgence ......

From trading point of view, obviously, what is working is same old stay home stocks .....

As markets are jittery and news flow is instantaneous ...things can change on a dime....

SO hedge your bets properly and not get carried away with yesterday's winners...

I am finding current trading environment hard to decipher and difficult to trade thus taking a wait & see approach.

As far as RSI read is concerned even Nasdaq RSI of 63.59 has lot of room to run...

DOW & IWM RSI is bargain basement @ 52.14 & 53.67

RSI numbers are saying....we go higher & higher near term, which may keep this rally going .....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed