Thursday, February 21, 2008

Equity Market Comment - 2/21/2008

A down day was what I was looking for today, but not quite as sharp as we were delivered.
The market managed to stay within the wedge on the S&P 500 and the 30 minute Nasdaq as well. The two charts show both of these occurences.

The seasonal model calls for a moderate up day Friday as the model scored
6 Neutral
4 Bullish
0 Bearish

Friday also is the early start to a strong period in the market.

We will know very shortly if equities can stay in their positive rally mode as we should begin to move up starting tomorrow.

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