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10/30/2009 9:24:00 AM
Financials Lead

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Impressive rebound in stocks on Thursday and the short-term A/D indicators have turned higher from oversold levels. This suggests that the rebound has further to go. The financial sector ETF (XLF) was one of the strongest, up 4%. The support on the daily chart in the $14 area was tested. A move above $15.40 would be positive.
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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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