A brief market update
And while some are farther along than others in the process -- e.g., the NASDAQ Composite vs the DOW and S&P -- the latter averages nonetheless enjoy important and crucial upside breakouts this morning. Of course, today being a Friday, closing levels are of paramount importance.
In similar vein, and just as an example, Google/GOOG nears an important, albeit not crucial, internal breakout. Ideally, that breakout would occur this coming Tuesday (the 26th) to form a double upside breakout. The breakout, when it occurs, would demolish the "obvious" ugliness of its chart pattern, a fact I alluded to in my Tasseomancy post.
As always, only time will tell -- although the (correctly perceived) charts betray all.
-- David M Gordon / The Deipnosphist
Labels: Market analyses