Thursday, April 21, 2005

Today's Rally

Even if due to short covering was very strong, so 10K was supported, for now.

ANy break of that level would be seen as bearish, look for early follow thru tomorrow, schizo market, has broken MANY important support levels, has turned most 52 week moving averages DOWN to flat, broken thru most 50 and 200 SMA's.....was VERY OVERSOLD, HAD STUPID HEDGIES going from record long to short.

And it is VERY hard to tell where it goes one day to next. I will stay in CASH myself, maybe scalp some trades.... until bear market lows are in place.

D

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