No replies to this topic

[arbman]

April 10-12 worked, currently we see a pull back but, there seems to be still an upside potential until April 18th. Currently this is not really worth playing as there is a larger cycle low coming up around April 24-26. The breadth momentum showed extremes and warrants a lower low or double bottom. However the sector leadership has been in the technology, financials and consumer stocks since last Thursday. We think this is a correction than a new bear. We expect a deeper correction from the highs in May, but indeed higher first in May, upside target remains as SPX 1450. Best of luck.

http://ichart.finance.yahoo.com/z?s=^GSPC&t=5d&q=&l=off&z=l&c=^IXY,^IXR,^IXE,^IXM,^IXT,^IXV,XLI,^IXB,^IXU&.png