All four primary US stock indices (Dow / YM, S&P 500 / ES, Russell 2000 / TF and Nasdaq 100 / ENQ) are trading higher in potential breakout mode. The fly in the ointment at the immediate moment as I write this is the Russll 2000 / TF, which has not made a new high. This HAS to occur, and soon, if this breakout is going to stick and Value is going to migrate to higher levels.
The Nasdaq 100 / ENQ has finally tipped its hand and has broken out of the multi-week Balance Area to the upside. See chart below.
IMPORTANT: A close below today’s lows would be an initial intermediate term sell signal.
