NASDAQ Still Strongest
07/16/2009 10:15 am EST
The major averages have completed their continuation patterns, suggesting that the uptrend has resumed. Since March, we have tagged the NASDAQ and tech sector as leaders, which they still are. The strong A/D numbers on Tuesday hinted at Wednesday's big upward action with the A/D line close to a breakout. Expect a one- to two-day pullback in the next week.