Wednesday, July 7, 2010

07.07.10 - Trend Day

A day after the Russell tagged official "bear market" correction levels, we are seeing a nice bounce with internals strongly sloped to the upside. Although the NASDAQ 100 is running just under its "R1" level, breadth is strong enough that we should have a good chance of breaking through. It's good to see the five-day moving averages flattening out.

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