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BRCM (30 min. view) had a nice rally after the Fed announcement. If it can break through its pivot point resistance area, it may be able to break out of this triangle pattern. We need to see some leadership from the SOX, otherwise today's gains won't have much follow through.
I was long FFIV again this morning right off the open, but now I think we really need to digest this bullish move. The chart above is a 30 minute view of FFIV's price action over the last two months and it has clearly made a solid base, but there's some negative divergence creeping into the OBV, so I'm taking a break. I'd like to see it pull back to $50.00 support area and stay there long enough to consolidate these gains.
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