Zeev's Turnips Patch-No Politics (ZEEV)

[madrose1]

well done trading on SNDK today mh , good short ...SMH (also good ss ) still displaying some R and topping action , or at least consolidation.

15:59 TECHX Market View: Choppy/mixed trade to start the week -Update- -Technical-

Very choppy session with the market averages reversing near Friday's low during the open and near Friday's highs in midday action. More of the same thereafter with the early low retested during the afternoon followed by a bounce back near mid-range. Generally sideways trade in the wake of the recent solid gains reflects muted selling pressure.

However, as noted in The Technical Take we have some potential topping action from Friday in several sectors (XHB, RTH, XTC, XAL, SMH) (noted potential bottom action in DBC, XNG, CLZ6, USO, XLE) to keep an eye on with sustained follow through below today/Friday's lows in the market indices (1318 S&P 500, 2228/2227 Nasdaq Comp, 11530/11528 Dow) arguing for a potential lengthier pull back short term.