For some perspective on a major US stock market index, today’s chart illustrates the overall trend of the tech-laden Nasdaq Composite since 2000. As today’s chart illustrates, the post-financial crisis rally (which began in early 2009) has been significant enough to have the Nasdaq surge well past its credit bubble highs of late 2007. In addition, the latest leg of the post-financial crisis rally was strong enough to have the Nasdaq surpass its dot-com peak of 2000. As result of various global issues (e.g. Greek crisis, Middle East wars, relatively sluggish Chinese economy, etc.), however, the Nasdaq has struggled somewhat and is currently testing support (see green line) of its relatively steep three-year uptrend channel.

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Quote of the Day
“If you board the wrong train, it is no use running along the corridor in the other direction.” – Dietrich Bonhoeffer

Events of the Day
July 19, 2015 – British Open golf tournament begins (ends July 20th)

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