Fun week.

I still feel the same way I have all week. I believe the indexes are currently weak and that when this downward pressure is over tech will lead. Look at the Relative Strength line today on the Nasdaq compared to the SP. I also like how everytime we start to fall everyone calls a bear market, then next thing you know the dip is being bought. That has been the pattern for the past two weeks.

I do not have much else to add except all those nice charts I have been talking about in technology are just getting prettier and prettier. The longs in tech land have been killing the market. When the markets legs get moving, we are going to see an outperformance this time.

I continue to get plenty of beautiful charts on my swing-long scans. The ones that came up today are almost all tech. I can not argue with that. You can hate tech all you want but when they are moving up...YOU ARE WRONG. Not me.

NVDA DIOD PRGS TEAM MSCC STMP LMS SY EMC IDTI STTS RTSX and the one non-tech stock UHAL.

Argue all you want, my prettiest charts are all medical and tech.

Also my PRETTIEST chart that I first mentioned when I started creating this blog on April 1, 2005 (Go back and read what I posted) is now up almost 50% since my purchase on 3/24 at 3.00. Guess what kind of stock it is? A speculative technology stock SILCF. Its BalanceOfPower indicator has stayed max green the entire time since its breakout on the 23rd of March, everytime is has a good day up it comes on heavy volume, and down days happen with no volume. This is the way you want to see a stock act after a breakout. This is a speculative stock but I have to bring up the point how well these tech stocks have been acting the past two weeks to two months.
Of course if you buy the wrong stocks with poor chart patterns, you get what you deserve.

Aloha and have a great weekend.