Wednesday, July 6, 2011

7/5 - 1 min

definitely feels like the bulls got a handle on things and pressure is on the bears to bring everything back down....even with the portugal downgrade and last week's strong bullish action, the market held up today....no strong reversal down in the eod means the bears are scared...

buy / sell / hold
yes we are overbought which means buying new positions now (or last friday) was not ideal as opposed to 6/27 when the rally started but we can still hold and wait...also too early to go short...but if we get a strong reversal candle and confirmation weakness after, we got a few great charts to selloff

strong sector: energy, tech (nflx), gold, oil
weak sector: financials

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