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Strong SOX Action Could be Good For Nasdaq

By Ilene
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As go the SOX, so goes the Nasdaq? Rob Hanna provides evidence.

Strong SOX Action Could Be Good For Nasdaq 

Courtesy of Rob Hanna at Quantifiable Edges

I’ve discussed in the past the fact that strong SOX action can often be a good harbinger for the the market. While both the S&P 500 and the Nasdaq failed to gain even 1% on Friday, the SOX rose more than 4%. It’s especially unusual for the SOX to post such strong gains without bringing the Nasdaq composite along with it. It has provided a nicely bullish expectation for the Nasdaq going forward.

Click here for full page view.  Visit Rob Hanna’s site Quantifiable Edges for more studies. 

 

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