INDEX UPDATE
--------------------
Surprisingly, the market just entered the overbought region, but there were only a few CLASS 1 SELLs on the indexes (NDX and DRG, neither would I touch). Sure they can pullback, but just a few points since they are so strong right now.
If the overall market continues up tomorrow with some strength, and does not have to be as strong as today, the overall market will be a CLASS SELL on Friday or Monday, but could still start as soon as tomorrow by topping out intraday.
I discovered that many of the big HiTech stock actually gapped at the open today which in candlestick talk is a "STAR" which is normally an early warning signal of a reversal. They are INTC, MSFT, CSCO, TXN. I personally would not touch any of these with PUTS, but if they pullback, it would be obvious that the NAZ would weaken.
Happy trading.
Seeya |
