Replies to post #28184 on The Black Box

[euterpe1]

wahz,

2250 is the 50dma and a good support area. I think that is a likely touchdown point. If it get really ugly, then 2200 is the mid BB on the weekly chart.

[Alexander]

Hi wahz

I share you bullishness long term. Yet, I have been and still am bearish/neutral on most large tech stocks (INTC, MSFT, CSCO, ORCL..) and considering their heavy influence on the index, I see them further pressuring the general tech market.

As stated before, i see two opposite trends fighting each other out in the market:
-on the negative side: the incumbents business models are being disrupted causing their CAPs to erode gradually.
-on the positive side: that disruption is caused by new emerging players

I still see this latter trend getting more momentum and hence imo, will give the market an upside bias but I'm unsure if we will move up as fast as you think.

alexander