Tuesday, April 15, 2008
Technically we are oversold, but don't tell the market that... it's a slow, rather annoying trip south here. Just about every indicator is mildly negative as the SPY hangs around S1. The financials and transports are holding up OK (in spite of record oil in the case of IYT). Really it seems to be earnings ambivalence.
2:40PM CST UPDATE: We need a leader to come out and beat their numbers here. IBM? GOOG? Anyone? Rob Hanna sees a quantitative buy setup.