Monday, January 28, 2008

01.28.08 - Pivot Resistance but Strong Tick

Well, we certainly started off the day better than Asia may have portended. In spite of the inability to hold Friday's open, note that volume was relatively light that day.

As of now, VWAP, Cumulative Tick and A-D line slopes all look very constructive at the mid-day. We are challenging the pivot point for the third time today as this is posted. Small caps and Financials are again pulling hard with Semi's even towing the line.

2:30PM CST UPDATE: Rising VWAPs held as support for everything but the NASDAQ100, which has been held back badly by the Internet issues such as Yahoo and Bidu. I did put a bit more on towards the Friday close and will minimally hold for a retest of the Friday open.

Daily NASDAQ-100 Component Performance


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