Sunday, November 29, 2009

Line in the sand

Next important support in the market is SPY 107.5 on a minor gap fill and the 50 SMA. Note that the oil stocks (especially the drillers in OIH) and the financials broke through their respective 50 SMAs a while back. Best acting sector right now are big-cap momentum tech stocks (GOOG BIDU AAPL).