Monday, August 06, 2012
BACK TEST OF BREAK OUT?
It certainly looks like it. If prices continue higher and hold the upper range above 1400, that would seal the deal for assault higher in prices.
Nagging laggards such as Transports, RUT (small caps), and the NAZ bring lingering doubts.
EURO CB'S adopting the FED's QE scheme has emboldened the "RISK ON" trade. DAY TRADERS love the market, longer term SWING TRADERS not on solid footing here.
Posted by Marc R at 7:22 AM