The market remains within striking distance of recent high

The market remains within striking distance of recent high

July 18, 2011

The market remains within striking distance of recent high. The Nasdaq 100 is 1.97% down from its 2011 high. Other indexes are withing 5% of recent high.

The market has been dealing with lot of negative news and yet it has shown very good staying power. As they say the market climbs a wall of worry. 

Net net the range established in last 6 to 7 months continues to dominate the action. When the range breaks there will be big move.