Mark, I think that the technical picture of MVIS is neutral right now. It did go and make a new all time high, as I suggested late in December it might, but the "spiky" nature was not healthy and a period of "backing and filling" here would clarify the direction. If that "backing and filling" occurs above about $31 or so, I think it puts MVIS in a position to challenge the high $30' (and new highs) within the next three months. If it is below the highs of last year (around $30, as it appears to be right now), it may set the stage for another period of deep retrenchment as we had last year. The critical point to watch is the $24 to $26 area, if it holds, MVIS stays quite positive, if not, look out below, IMHO.
Zeev |
