Yes, We Have No Setups
Greg Che is on vacation; in his
absence this commentary is being written by Brice Wightman.
I’m not going to put up any charts of any major
indices, for two reasons: 1) Because you’ve probably already seen them, and 2)
If you haven’t already seen them, trust me, there’s not much to look at. That
should take care of just about everyone.
Suffice it to say that there are not many setups happening right now.
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PowerRating),
mentioned yesterday, popped today, and continues to look good. A 41% earnings
gain is always helpful. (Check out yesterday’s commentary for chart).
The few setups I found I give to you reluctantly because of the overall market
tone.
Educator Apollo Group pulled back from highs,
however today’s bar indicates further pullback is likely.
Mortgage bank Doral is still trading near its
highs, but is showing some weakness.
Polymedica is trading above a wide and loose cup
and handle.
As I speak, the Naz futures are up 77 points, so
tomorrow should be interesting.