The market internals improved, but didn't regain what they lost on Wednesday. The screened stock ratio continues its decay, now at +1.17 favoring buying, the estimate of market risk remains moderate. The ratio hasn't been negative since October 10th. It has been a good run, and unless we see some internal strength, it may be over.
Strong groups include; computer services, computer peripherals, computer memory devices, (note that EMC made it to the list today), Internet ISP's, gaming, homebuilders, software, restaurants, semiconductors and select retail.
Longs to look for support on: BBY, CDWC, EMC, TJX and USTR.
Don't forget the Quizzler after the close tomorrow.
Good Trading!!
Sam
savvy-trader.com |
