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10/29/2009 2:13:00 PM
Oversold Rally or More?

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The better-than-expected GDP numbers have given the market a boost early Thursday. The market was quite oversold as the McClellan Oscillator on the NASDQ is below the March lows. A higher close on Thursday with positive A/D numbers should at least signal another few days on the upside with key resistance at 2130-50.
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Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com Video Network. He was originally trained as a biochemist but began using his computer expertise to analyze the financial markets in the early 1980s. Mr. Aspray has written widely on technical analysis and has given over 60 presentations around the world. Many of the technical indicators that Mr. Aspray wrote about in the 1980s, such as the MACD, have since gained worldwide acceptance.

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