Daily Engrbytrade™ Dow calculations show price action relative to volume data on August 4, 2023 is similar to what was developed on December 1, 2021, March 3, 2022 and November 2, 2022. A move upward is expected to continue in August.
Observation: During July 2023 a steady stream of billion dollar trades crossed the tape. Hedge funds and institutions appear to be chasing tech stocks.
Traders Are Risking It All on Bets That Market Boom Will Last
Stock charts courtesy of StockCharts.com.
