Tech stocks are about to break out in a big way, according to one top technician.
“The Nasdaq Composite has outperformed the broader market this year, outpacing the S&P 500 [Index],” technical analyst Rich Ross said on CNBC’s “Trading Nation.” The Nasdaq Composite has rallied more than 7 percent year-to-date, while the S&P 500 is up just under 3 percent in the same period.
Against that backdrop, “I have high hopes for the Nasdaq as we head into next week,” the Evercore ISI analyst said.
My expectation for $SPX move tomorrow is UP although there is a great weakness in the market so the gain may be very small.
Leave a Reply