By: Tom Gentile
on May 5th, 2021
Wishing you all a happy and safe Cinco de Mayo!
The markets and their participants seemed to be in good spirits today as the Dow reached an intraday all-time high up around 200+ points.
It closed lower than that peak, but the end result was yet another all-time high price on its close.
The NASDAQ did not fare as well.
The tech heavy index is in a precarious position technically. It is up a bit over 5% for the year, but in the last month it is breaking down / below the 30-day Simple Moving Average (SMA) on a closing basis.
C1P Chief 1-Percenter