Wednesday, May 4, 2011

Consolidation

This first dip after a strong rally is usually just that, a dip. I am looking at a range of 1345-1370 for the next several days. I see limited downside from current levels until we see the trend flatten out. I don't really see much of an edge yet either long or short. Maybe if this market struggles to go much higher over the next few weeks, that could set up a selloff.

1 comment:

Tsachy Mishal said...

I agree. i think we are about to get a bounce.