Wednesday, February 3, 2010

02.03.10 - QQQQ Outperformance & A Modicum of Normalcy

The NASDAQ 100 stocks have managed to stage a follow through recovery even as the the other majors remain weighed down.  Cumulative Tick is trending negative along with most other internals, so it will be interesting to see how that disparity plays out.  For once, a "normal" pullback!  Stocks aren't supposed to go straight in any one direction for days on end.  As a second measure of normalcy, price coming back and stabilizing in the middle of the recent range here neutralizes the unusually wide stretches we have seen of late, first to the upside, then the downside.

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