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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (161835)	2/11/2008 2:39:58 PM
From: The Freep	Read Replies (4) of 209892

Geez... you and MC so busy celebrating intraday! Not something I like to see as one who would like the rise to continue here. I remain concerned about the SPX structure, and I'm not utterly wild about the tech structures either. To wit... the SMH looks like it "should" go higher here and wiggle wise that's supportable. BUT how many times have we said that around these parts? The SPX should now be backtesting that wee breakout and "should" go higher (to at least JJ's target). But if it doesn't? Won't be fun. And if we're talking wiggles... is the move off today's low impulsive? In what time frame? Certainly in the XLF this is a lousy looking move.... And while I agree that the breadth is nice, the volume today is not. That's gotta kick in for me to believe this is anything noteworthy. And with that, I'm off to lunch! See ya afterhours....

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