A Look at Tech
07/21/2010 9:48 am EST
As I noted yesterday, a higher close with positive market internals would be a very bullish sign for the market. Stocks were hit hard early before closing strong, and earnings from Apple (AAPL) should give tech a further boost. The Semiconductors have held well above the February lows with key resistance in the $28.70-$29 area and near-term support at $26.30-$26.70. We saw a very strong close in the NASDAQ 100 after a lower opening as well. Next resistance now lies in the $46.70-$47.70 area and the momentum is positive.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.