New Recovery Highs!

When was it, a week ago? We were waxing worriedly (enough alliteration) about the resistance right above us for the major market indices. Well, that is all pointless now as we’ve technically broken out above resistance and made marginal new highs. The leader in this effort was the NASDAQ, which actually broke above its January highs a couple of weeks ago and now is clearly in new recovery high territory. All the hoopla about the NAZ being a big loser over the past ten years means nothing to this current run. It is all about “what have you done for me lately?” The NAZ has been the leader in this bull market and looks like it doesn’t want to give up the lead.
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