Wednesday, August 03, 2011 7:14:04 AM
ARIA hasn't been deeply oversold since july 2010... it is a great stock. after yesterday's blood, if the markets is in a similar mode as the last two days (sell off constantly after a glimmer of hope at the open) I think ARIA will test upwards... near 11.25... but close lower. 50sma isn't going to hold and $10 has a lot of gravity and want's to be tested... perfect round number + trendline support + historical/vol by price support. two more nasty days and ARIA will be oversold.
I think the market sentiment is going to price in a nasty jobs number for friday and then have a relief rally when the number comes in, no matter what it is.
dow and s&p both broke necklines of head and shoulders patterns and broke 200sma in the last few days... even a bounce on friday back above neckline doesn't mean it's over.... but I'm not a bear... I think support on dow and s&p is at 11,400 and 1,200 ... from the november-december 2010 breakout.
I think the market sentiment is going to price in a nasty jobs number for friday and then have a relief rally when the number comes in, no matter what it is.
dow and s&p both broke necklines of head and shoulders patterns and broke 200sma in the last few days... even a bounce on friday back above neckline doesn't mean it's over.... but I'm not a bear... I think support on dow and s&p is at 11,400 and 1,200 ... from the november-december 2010 breakout.
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