Thursday, July 12, 2007
The S&P and Dow have maintained their sell signals even after yesterday's bounce. The QQQQ, on the other hand, has maintained its strong relative strength. We suspect that selling pressures may return today, so it's best not to get aggressive here. If stocks can break out to new highs, then the rules of the game will change. For now though, stocks are range bound and are still trading below resistance.