Wednesday, June 16, 2010
Strong Breakouts and Leader Action Confirm Power of the Rally - Bullish
Look for tight action and pullbacks to enter long positions. DO NOT CHASE!!! Headline risk still a major problem for the market. So use caution, but be patient. NASDAQ currently stalling near 06/03/2010 highs. Next level of interest will be the 50DMA. Leadership will be narrow but obvious. So go after the leaders known to the market. New leaders should be exceptionally strong fundamentally to be considered.