Semi-bullish
As I mentioned this morning, the SOX
was trying to rally back and pull up the Nasdaq with it. The Nasdaq did rally
back and break the downtrending channel. Since I made this chart, the Nasdaq has
traded up to 2840.
The SOX formed an intraday cup and broke out a bit.
Xilinx
(
XLNX |
Quote |
Chart |
News |
PowerRating), also mentioned this morning, rallied back
off its lows.Â
Another name in the group which came back was Linear Technology
(
LLTC |
Quote |
Chart |
News |
PowerRating), which is trying to break out from an intraday cup-with-handle
formation.
For the rest of today, look for the strongest sectors (or
weakest if you want to short), and be looking for the members that are trending
the best from within their group. Most real-time-quote software will provide you
a breakdown of each group.
Also worth watching on the intraday charts is Infospace
(
INSP |
Quote |
Chart |
News |
PowerRating).
Â
Until later,