Wednesday, June 27, 2007

TICK action has not favored the bulls recently. Chart suggests we still have room to the down slide until we get the capitulation low. Semis are actually positive this am, led by the twins, MSFT and INTC and the Qs are following. Gold (broken through support) and oil (at support)have suffered major pullbacks the past 5 days and a relief rally seems highly probable, though it may be short term.

No comments: