Wednesday, July 27, 2011

Rough Morning for SOX

Open huge gap down, so most likely, the gap won't be filled.  SOX testing last Thursday low. RSI pretty low, bulls putting a nice fight.  If we close above 400, bulls should be ok. Short-term bullish, still see ending week strong, around 410.

The rebound looks good, 3 strong push.  

Setback, testing the morning low, lets see if bulls can fight back.


Consolidtion, couldn't stay within the channel. Let's see what happens.



Expect a bounce back tomorrow on SOXL, market oversold, RSI low.  
Showing support at $39, important tomorrow we stay above this level 
otherwise we will test last weeks lows.  Resistant showing at $42 and $45.

3 comments: