With new highs in Nasdaq yesterday, the IT sell in Nasdaq got invalidated. The S&P never gave a sell and continues to remain on a buy signal. It's typical of sectors to give false signals while the proxy for the U.S market (S&P) continues it's trend. If you are a bear, you are better off looking for a IT sell in the S&P. It's also a false flag when the U.S index gives a sell while the emerging markets are on a tear. India's Nifty continues to make new ATH every day. Remember the sun rises in the east. The criminals start their organized crime in the east and move towards the west. Sell-off in India's Nifty will be the first leading event before the domino travels west. Anyway, continue to buy the dips until the next IT sell shows up.
The opex week wonder continues. I think da_cheif's WWW is one of the greatest observations in the market. More than 90% success rate based on my own obsevation.
