Wednesday, November 01, 2006
This market is getting tougher and tougher to trade as the possibility of a breakdown increases incrementally each day this trend ages more. Even so, the trend is still higher and we are seeing stocks firm up even at these high levels. MSFT, which plays a large role in the performance of the QQQQ refuses to break down and is now projecting a breakout of a multi year trading range. This could certainly change the technical picture for the tech sector.