Friday, June 04, 2010
Watch The Follow Through Day Lows
A violation, especially a close below the follow through day lows (NASDAQ - 2210.07), historically leads to failed rallies and a retest of recent lows. Depending on when you positioned yourself in this rally, you have to make a decision on whether to try and hold through that test or move to cash. The conservative play is to move to cash. Many leaders are holding well, but that can end very quickly.