Wednesday, October 15, 2008

short term pull back?

after such an extended move in just 2 days..it's healthy for the market to see a little pull back...if the market can bounce off of 5-dma...then uptrend could be intact...if not..then we may see another retest of the lows? Just guesses...

SPY - 5dma @ ~95.3
QQQQ - @ ~32.92
DIA @ ~ 89.64
XLF @ ~ 15.8

If the uptrend is strong..usually the stocks will bounce right back to the upside...

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