Securities Research Services

Wednesday, September 05, 2007

Tech Threatens Old Highs

Volume hasn't been strong recently, but a quick examination of what followed the last few market corrections will show that volume was relatively light at the beginning of the new trends. This is likely due to the fact that doubters persist and refuse to get on board the fresh trend until it becomes readily apparent that indeed the market is in rally mode.

With the tech sector leading the way higher and with the financials continue to show strong accumulation, it's just a matter of time before the S&P breaks the neckline of its inverted head and shoulders pattern and marches back up the hill with tech.

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