AI
Wednesday, April 04, 2007 1:11:29 PM
Qs 44.38 and SPX 1140 are the resistances which I noted yesterday.
Market consolidation is expected, but what I don't like to see is market is up with "MSFT" upgrade because it would be distorting market health as I noted that A/D was poor even though market was up. Even though the 10dma on A/D is lagging on the A/D chart which I posted on my previous post with MSFT, the A/D intraday was weak. In other words, MSFT faked market being up as if it is heathy.
I'd rather see MSFT selling off to breakout before the upgrade and see market strength since we know about up/down grades often cause misrepresention of true market health. We need to see normal breadth without MSFT Pump by citi upgrade....
Market actions are so far good.
Market consolidation is expected, but what I don't like to see is market is up with "MSFT" upgrade because it would be distorting market health as I noted that A/D was poor even though market was up. Even though the 10dma on A/D is lagging on the A/D chart which I posted on my previous post with MSFT, the A/D intraday was weak. In other words, MSFT faked market being up as if it is heathy.
I'd rather see MSFT selling off to breakout before the upgrade and see market strength since we know about up/down grades often cause misrepresention of true market health. We need to see normal breadth without MSFT Pump by citi upgrade....
Market actions are so far good.
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