|
PureBytes Links
Trading Reference Links
|
Hi Guys,
I don't have a strong feeling about the market tomorrow because:
1. MACD divergence and Friday's action are bullish. Furthermore, one
wonders if the strength shown in the nasdaq will soon move the s&p.
Considering the volume behind the down action, a blow-off may have
occurred with a bullish reversal imminent.
2. But cci, dmi, and m/a's are still pointing to bearish price movement
and stochastics have failed and are now pointing lower. Furthermore all
of the elements in 1. above were present at the end of last week and
still we had another down week. So without price confirmation, the
trend is still down.
ALSO, it looks like the tech stocks are more oversold and, being subject
to more momentum, would lead the S&P in a reversal to the upside.
What are your thoughts on the techs and the s&p?
Best wishes,
James
Attachment Converted: "c:\eudora\attach\vcard170.vcf"
|