Markets rose once again Wednesday as the leading Nasdaq has now made it 3 for 3 this week. I am a numbers and patterns guy and this will is the sixth time the benchmark has CLOSED above the 5000 mark and today recorded its highest finish in over 15 years and is gaining on the all time closing high of 5132.52 on March 10th, 2000. This will be the third time it has closed above 5000 on consecutive days and the prior 2 (3/20-23 and 4/15-16) ended up not be a 3 day streak above the psychological number. For the week thus far it is up an impressive 2.1%. The S&P 500 is up 1.3% on the week and we are looking for a move and CLOSE above the 2120 handle which would continue the round of higher highs and higher lows. Of course the best performing subsector within tech is the semiconductors and we have seen several names in the group report earnings this week and they have acted just like the leaders they are. A couple of European names beat numbers and rose with ASML, a Dutch play, up 10% today. ARMH, a UK firm, was higher by more than 4% Tuesday and BRCM gained 5% today. Israeli name MLNX is up 7% this week so far after reporting yesterday. Of course laggards will be laggards with CREE lower by 8.5% Wednesday. Below is how we looked at BRCM in our Monday 3/16 Game Plan.

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