Mike
04-23-2012, 07:12 PM
The NASDAQ undercut its prior low and thus reset the rally count on this index. The NASDAQ by finishing at the top of its range today may qualifiy for a new day-1 rally count unless today's intraday low gets undercut. The NASDAQ won't be counted toward a follow-through day until day-4 count. The S&P and New York Composite still have there counts alive (today was day-9) and looking for a new follow through day. More leading stocks came under pressure today (BIDU, FTNT, SWI, V).
Many others are holding up (TNGO, TDG, SXCI, SAVE, TIBX, VRX, TSCO, DG, SHW, GNC, DISCA, URI, YUM, STX, ROST, HLF, AAP, ORLY, ARG, DLTR, VRSK, NTES, USB, EXR, LNKD, ISRG, FRAN, UBNT, LULU, ALXN).
I remain in the market with LNKD, ISRG, GNC, FRAN. I am also short FAST.
Many others are holding up (TNGO, TDG, SXCI, SAVE, TIBX, VRX, TSCO, DG, SHW, GNC, DISCA, URI, YUM, STX, ROST, HLF, AAP, ORLY, ARG, DLTR, VRSK, NTES, USB, EXR, LNKD, ISRG, FRAN, UBNT, LULU, ALXN).
I remain in the market with LNKD, ISRG, GNC, FRAN. I am also short FAST.