Nasdaq looked good today. Last night, I was hoping see that it would close above 2400 and have its MACD turn positive. Both of which it did! And, as expected, it hit the 2410 20-day MA and took a rest there. This was good because we stayed green with good gains and saved room for a burst tomorrow. Let's hope the Feds have nice things to say that would arouse the big rally!!
I was hoping that the semi-conductors and the telecoms would join in today. They did!
SMH closed above the support today. And, we can see that the 10-day MA is still moving up. It is definitely better, but, we need to see a lot more from this sector. Let's hope that we'd get a broad rally tomorrow and that SMH (and the SOX) and retake their recent highs soon!
GOOG was a bit disppointing as it closed a bit in the red. If GOOG had rallied though, we might have gone too fast, for it might have inspired more buying today.
Now, I'm going to "choose" to focus on the good things again:
1) MFI is curing up
2) MACD went up, even though the stock was down a bit
3) the MAs are bunching up, if GOOG can get a big jump tomorrow and pass 458, it would clear all 10-, 20-, 30-day MAs!
I looked at POT last night and thought that if it gets above 156.8, it might make a move. And, it did!
POT managed to close above 158, up more than 4 points! It closed above all MAs, with the 10-day MA curving up. MACD, RSI, and MFI are all shaping up. So, if a rally comes tomorrow, we might have 166 look for!
GS was able to get some buying interests today.
It closed right at 204 today, above the 20-day MA and the 30-day MA is not that far away. MACD, MFI, RSI are looking up, with MACD being positive.
Now, the casino group made some good jumps today, with MGM up 4.2% and WYNN up 2.8%, but, LVS (normally, the strongest in the group) was only up 2%. So, I thought it might go up more and be the strongest tomorrow.
Its chart looks good. It closed above 20-day MA and touching the 30-day MA. The MACD had already turned positive and is moving up nicely. And, it had good buying volume today. So, let's hope the rally is there tomorrow and LVS would participate in a big way!
I will keep an eye on VIP and FFIV tomorrow also. VIP made a hugh move yesterday and backed off a little today. FFIV is looking ready to run with the pack! In after hours, ORCL and ADBE had good earnings news and both advanced. So, it's all waiting for the Feds. Hopefully, what they say will spark the market tomorrow and get a broad-market rally going!
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