The tech-heavy NASDAQ composite managed to hit a new 14-year high on an intraday basis before reversing into a minor loss.
The March 2014 highs are near 4,371. The NASDAQ hit 4,372 this morning only to close negative. A reversal here would look like a bearish double top formation.
Fortunately, most of the major U.S. indices look poised to move higher tomorrow, including the NASDAQ. The question is will they move higher.
Currently the market has been able to shrug off rising geopolitical tensions, especially in Iraq. However, the weekend could bring new headline risk.
We are not adding new trades tonight.