Hi Shack,
Agree on the Nasdaq being important:
stockcharts.com[w,a]daoanyay[df][pb72!b50!f][vc60][iLh14,3!La8,21,5]&pref=G
I like how the retest found support at the 72ma and since has been walking the 50 dma.
Institutional support at the 50 (on big volume) is often a pleasant source of confidence.gulp
Breakaway gap on SOX?
stockcharts.com[w,a]daoanyay[df][pb72!b50!f][vc60][iLh14,3!La8,21,5]&pref=G
Holding well,but a handle after a two year cup could/should be anticipated.
Cyber's old chart on SMH still shows formidable resistance at the long term trend line that connects 45.68 to 40.62.
stockcharts.com[w,a]daoanyay[df][pb72!b50!f][vc60][iLh14,3!La8,21,5]&pref=G
Last but not least I was pleasantly in agreemnet with VVV comment that da boys at wall street surely would like to reload in between this top of recent price action coming from good earnings and the scary quiet months of February and March when too much talk of higher interest rates, slowing GDP,creating a rate inversion that inevitably will cause a recession,blah blah blah - right up until we show continued global growth and surprising better corporate earnings coming from the industrial sector - in particular my favorite the semi and the semi equipment makers - who are no doubt in a CAPEX race.
Looks to me like Cybers thought of an abc of B on his SPX chart is an attractive alternative.
ttrader.com
I never like to see -DI racing up to a declining +di after a nice run up - his chart signals a big alarm - may be a need to be very nimble in the next 2 weeks.
Thinking one or two more weeks and we hit our head on 1315.93 (a past failed attempt to launch over 1300 way back on 5/25/01)
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