Solid day taking NQ a whopping 50 points high to low and only stalling at 61.8% June high/low. Support is now weekly R1 (yes, R1) at 1595. Quite an accomplishment. SOX is still being held back by its 20 dma, so that is the battle for bulls going forward. The power of this rally indicates more than just short-covering. It was broad based and should have enough legs to carry through early next week.
This entry was posted
on Thursday, June 29, 2006 at 3:21 PM.
