Things looked ugly at open today but after early morning sell off things kind of slowed down and then we had a late day surge followed by selling into close. Overall I would call this action as a low volume pullback and bulls look much stronger than everyone thinks. Everyone is looking for a correction and we may not get one for some time, this tape feels and acts bullish to me as longs as 92.76 is held on SPY. Homebuilders, finacials led to upside while commodities lagged following the strength in dollar. One sector I am getting bullish on now is biotech which is acting well and has room to run unlike othe sectors who have run quite a bit from march lows. Look for watch list for tomorrow on twitter.
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About Me
- Sid
- A techy at heart who tries to keep in sync with ever changing technical and business world. A producer, architect, developer, leader, all rounder, like to do what I really love- Technology
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