Market Insider: Nasdaq recovers tech-bubble high
by Patti Domm
The Nasdaq regained its tech-bubble high Thursday on the wings of a Fed-induced rally, but the market is likely to remain volatile even if other indexes also reach new heights.
“This a 15-year-old high. When you test levels like that rarely have I seen one sustainably and appreciably broken (without at least a minor correction first),” said John Kosar, chief strategist at Asbury Research. “Markets have a memory, and when you get to old levels, people like to buy off of old lows. People like to sell off old highs.”
Asbury Research subscribers can get more detail and accompanying charts and data pertaining to upcoming US stock market direction by logging into our Research Center.
Interested Investors can contact us for more info.