Leadership Is Still Somewhat Muffled, But Look At Two Homebuilders
We saw
solid support come into the NASDAQ for the first time in a while.
NYSE-related action looked strong, but volume lightened from yesterday’s levels.
Leadership is still somewhat
muffled, although we did see support come into Apple Computer (AAPL).
Google (GOOG) closed right at the 50-day moving
average.
As we all know, homebuilders
have had quite a run and are very extended, but they
do continue to act well. Both Ryland (RYL)
and NVR are holding above there 50-day moving averages throughout this
correction and may be worth a look.
Enjoy your weekend!
Tim Truebenbach