Thoughts On The Market

Dow broke out to new high. High momentum growth stocks are having oversold bounce but their trend is still bearish. The divergence in the stock market is a concern. The negative trend may eventually win out as we consider the situation in Ukraine is intensifying, whether the Dow is able to close above its previous intra-day high at 16631, will the S & P 500 able to follow Dow and break through its 1897 high, both the Nasdaq and the Russell 2000 have only 1 more day of bounce before hitting their 50-day moving average resistances and VIX visited 11.88 multi-month low today and is showing extreme optimism.