Markets began in the green to start Thursdays session and never looked back. The Nasdaq boosted by a good showing in semis was the winner up .7% and the S&P 500 rose a respectable .5%. The Nasdaq stopped just short again of the 4600 level that plagued the index earlier this month. For the week headed into Friday it is higher by .6%, looking at potentially a very taut weekly close for the fourth time. After the close software giant ORCL was lower by 3% after the close, and may weigh on the benchmark as it attempts to cross the current 4600 roadblock. The S&P 500 hit a new all time closing high Thursday and its weekly gain thus far is double that of the Nasdaq with a 1.3% advance. Energy names were drilled once again today as some former leaders unraveled. CLR a domestic energy powerhouse that recently took out a 77.71 double bottom trigger on 8/25 gaining almost 4%. When looking at a fresh breakout it is imperative that the name keep plowing ahead. The best breakouts will work right away. This name made little headway and is now looking at a certain 3 week losing streak. Last week the stock slumped almost 8% on accelerated trade, and this week is down by 4% already. The round numbers come into play with CLR, as it was tough to get through the 80 handle, it did so once on 8/29, before falling back today where the round 70 handle looks like very tenuous support.
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