Tom’s Weekly Newsletter: 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.

Tom Gentile
C1P Chief 1-Percenter