Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 44.21

+1.2%

Dec 24 4:00 PM EST

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To: Kirk © who wrote (52140)	3/13/2010 8:31:58 AM
From: maceng2	1 Recommendation Read Replies (1) of 207447

Just had a closer look at that chart of yours as suggested by week with some extra time added on. The most recent candle does look to have just popped the top weekly downtrend, no matter how you interpret it. So I expect the overbought indicators to get pegged for some time over the next few weeks. It could only get completely reversed if someone spoiled the party and increased rates or something. However, I could only see that happening later if the market were already blowing and world banks & government had to be seen to do something to get things under control:-) I remain cautious because some whipsaw action and volatility is to be expected at minimum.

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