Maxlinear Trend Following Breakout Example $MXL

Yesterdays stock market session was favorable. All eyes were on the FED announcement. When it came out saying there would be no rate hike now and probably not for a while the market rallied. The major averages finished with solid gains of .75% for the QQQ and .56% for the SPY.
Finally the SPY broke convincingly above it’s 200 day moving average. Hopefully it will be able to hold this moving average. The 200 day has been the primary resistance on it’s chart. There were some breakouts today such as MXL, but we are still not seeing strong gains in quality growth stocks. Without this action the durability of this rally is still suspect. The strongest sectors were the semiconductors. Maxlinear is a leading stock now in a leading sector. The fundamentals are extremely strong…actually triple digits…and now we had a break out…In a healthy market this is what one needs to find…

mxl