Good Morning all, bloch's comments "Clearly, the good news was the market’ s ability to spit out warnings from chip companies. We saw this during the snappy NASDAQ rally
in January. So, we have the rally, plus warnings came from CU, LSI, VTSS. On the other hand, MU
rose 3 points, and the SOX index rose more than 5% – that’ s helpful leadership. The A-D index posted
253 net advances, and that was a little light. Also, downgrades on CSCO, NT, JNPR led to all three
closing on the upside.
Conclusion:
The 10300 level continues to hold, which is a growing plus, as the DJI is now 262 points above that level.
The futures this morning point toward a higher opening, and we need to see the market go out strongly at
or near the highs."
Ralph Bloch, Raymond james |
