Gersh, Thanks, I like the site.
The charts of many of the leaders are looking the same way (i.e., IBM). However, I'm just not sure that much can be gained from a TA perspective in this holiday week. IMHO the key will be how the market handles the Senate upcoming hearings. Obviously, to my surprise, it blew off the House vote, bombs, and earnings warnings, as if they were unimportant. Now, let's see how it handles this one.
Clearly, GE and many others are so far above their moving average that one must question the oxygen availability at these levels. As I noted to MG, the market could use a respite; it would be healthy.
Berney |
