Monday, May 10, 2010

Technical Picture - Markets Oversold


The charts are broken and the markets are extremely oversold following last Thursday's dive. If prices break above the intraday recovery highs as depicted on the S&P futures chart below, we could get a tradable retracement.


3 comments:

bl said...

Care to add to mostly nasdaq/higher price/beta WL: ffiv sndk veco vsea cree wynn mgm lvs aig rimm nflx gmcr athr brcm
grmn bucy joyg apol clf x. Really, WYNN 5pts up from the gap down

bl said...

add DNDN

Jamie said...

BL,

I'm holding BIDU but not adding. AKAM - I did add when it formed a solid base at $39.40. Sold my RIMM at $69.

I'm watching SPY $117, to plan the next trade. If it breaks 1 min. trendline here, would be looking to sell longs and get short.