Since you used in a nutshell. We'll address that only.
Momentum. Were following the NAS as you mentioned. Inc chart. Last four days is the focus point. Monday the gap down. Followed by Tues. leveled Wed. the doji switch. Thurs. the gap up to about where Monday started. Trend line broken. Wouldn't this be positive momentum?
Expectations have been lowered perhaps but not to the point of keeping this down at 16. Regarding uncertainty the recent 10k to me was very clear and clean. They have gotten rid of the stuffing they have been using and added some real meat.
The jury is out on mid term view of the markets Next month the earnings comes out. Very few pre earning warning releases so far. Companies over all are certainly making more money than last year this time. The future based on the over all comments looks positive as well.
IDCC also included a quick chart. Again we see an about the same as in the Nas.
RSI is coming up but still at oversold. Getting a hook on the MACD. And we also gapped Monday with the NAS. The A/d line was 10 to 1 Monday. To make it simple almost everybody gapped down. BTW IMO without the NAS influence we would have leveled off at 17.
RE we will need some strong positive news IMHO to reverse this current trend.
Disagree unless you're talking about going back to 27. Were over sold. So is the NAS. Go back to the NAS chart and read the double bounce at the 30. Too soon for me to throw any firm numbers out as I have not studied all I would need too. However, for fun and a guess from the quickest of glances, a move back to the 19 to 21 area and a holding pattern until something moves it out. Or in other words as before. The gap that is just above these numbers is interesting as well, don't you think.
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