Nasdaq Makes Another New High

On Tuesday, market volume increased compared to Monday. The Nasdaq advanced throughout the day, gaining 23 points (+0.58%) and hitting a new high. In contrast, the S&P and Dow started the day by testing yesterday's lows, and then they gradually climbed to make modest new highs before giving back some ground in the final hour.  Both the S&P and Dow gained less than a point on the day.

The action today on the Nasdaq was constructive. The Dow and S&P basically treaded water. With Thanksgiving week, the market may give few solid signals until next week. Still, the Nasdaq has closed up for 4 days in a row (the Dow and S&P 3 out of 4). The market remains in uptrend mode, but the Correction Risk is still high. 

Daily RSI 20 did not make a new high as the Nasdaq hit its new high on the current upswing, so some caution is warranted.