Thursday, March 6, 2008

03.06.08 - Relative Strength in Large-cap Tech

As financials find themselves back in the tank, technology has been showing relative strength. Note that the Quad-Q is just now touching its five-day moving average. Tick is very negative -- I wouldn't try to pick any bottoms here.

2:25PM CST UPDATE: Now it's all eyes on the jobs report. Here is a good blog read for the hopeful bulls among you.

3:05PM CST UPDATE: Not a pretty tape and we are now outside the recent trading range [edit] to the downside. I believe this is the lowest close of the year. Volume was a tad light [edit] and the VIX still looks relatively tame... this doesn't bode well going into the weekend.

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