"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Sunday, April 29, 2007

SOX still in a bullish stance

But a break out failure would change that in a hurry. The stock market is in a high risk posture and by our eye sentiment, timing and momentum indicators say CORRECTION - a hard one. But for now, the chart is the chart and it says target of 530 where a major back test is likely per weekly chart below.