Susan,
A couple times the past few days I've walked away from my computer thinking that just maybe things could resolve upwards. For awhile today I had the same sense. At this time I don't think the SP will will move up, perhaps its because I trade it all day that my impression of the chart is more negative. It was a slight pull back of the ND during regular trading hours, but hey, it pulled back below the high as I draw it on my charts and that's all I need to be on alert.
Re the SOX, NWX, hardware, etc, I agree the next few days will be key. SOX and NWX in particular since their members carry a lot of weight on the Nasdaq/NDX; MSFT needs to be watched of course too. QCOM still has not redeemed itself either.
I'm watching them all, nothing is clearly up or down yet, all we know is that its a critical time.
And if they pull back, then I will assume a failed top and act accordingly without further evaluation. It will be a decent low risk short entry..., given that an exit trigger will be clearly defined just above.
Regardless of the outcome, the suspense of waiting will be over soon. |
