Intraday: TRIN NQ hit a high of 3.57 and is now down below 1. Huge bullish divergence on the daily with so far a nice tail below for NQ/QQQQ/NDX. Hitting 36.36. a key number in the late 2003 bull run resistance and bouncing, makes me think we bottomed. The "valuation" calls should be coming. Nevertheless, stops should be raised to 36.40 or so, NQ 1494.
This action is making me rethink my earlier call of a summer rally followed by a big decline into year-end. We might have actually seen the worst for the year. Stay tuned and stay safe.
This entry was posted
on Thursday, July 13, 2006 at 8:33 AM.
