Friday, May 06, 2011

Post Light until May 20th

On vacation and when I return it will be a move into a new place (setting up internet can take a while). Always something seems to happen when I'm away so no doubt the market will decide to continue downwards...

There is a bull trap in the S&P

($SPX)

via StockCharts.com

Nasdaq

($COMPQ)

via StockCharts.com

But the Russell 2000 held its 50-day MA

($RUT)

via StockCharts.com

As did the semiconductor index

($SOX)

via StockCharts.com

Can the semiconductors and Small Caps advance their cause? Or will the newly tapped bull traps in the Nasdaq and S&P take indices lower? I prefer the former scenario over the latter in the short term - but bull traps are hard to reverse.

 
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