Nasdaq 100: the rally holds near the highs, but the cycle's drive is cooling

The Nasdaq 100 trades near its all-time high, with the weekly bullish signal now in its 6th week. Technology, over half the basket, remains the engine of the move and the technical structure shows no cracks on either the weekly or the daily. But Signal Strength recalibrates to 17 out of 100 and the first of the three statistical profit-taking areas has already been reached: the rally holds, the cycle's momentum is in an advanced phase.