This is a six monthly candlestick chart of the Nasdaq 100 Technology Sector index. It is on the cusp of giving a double whammy buy signal with Coppock already bullish and the shorter term (blue line) moving average having clearly turned higher. Previous such buy signals have been highly successful.
It is a great list. Twenty of the top 30 listed constituents are QV benchmark stocks. It is an equal weighted list so does not have the need for the special rebalancing which is about to take place for the Nasdaq 100. This also means it has underperformed the Nasdaq 100 which has been driven higher by the soaring prices of the mega caps.
What the chart does tell us is that we are going to find a growing number of shares in smaller cap technology businesses which are doing well and so we do. Some exciting performers are discussed below.
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