NASDAQ Still Lagging

01/20/2010 9:34 am EST


Thomas Aspray

, Professional Trader & Analyst

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The NYSE A/D line closed at further new highs on Tuesday as the A/D line is still rising stronger than prices, which is a very positive sign. The breakout in the NYSE still has upside targets about 5% above current levels. The NASDAQ chart is also positive as it has just retested trend-line support. Tech stocks are still leading the S&P, but the NASDAQ A/D line is still below the October 2009 highs and is not confirming the price action. There is key support at the December lows.

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