Thursday, May 19, 2005

Rally continues but we need a pullback

Surf is large today in town, so the commentary is going to be short today.

What can I say, since the market gave us a confirmation day on May 4 we have gone straight up on the back of a wall of worry. The wall of worry is now starting to get worried that they are going to miss the upside move. Hello! You just did and now we need a pullback. Will we get it? I don't know. We might keep on climbing higher and higher on this negativity. But I am starting to see signs that individual charts need to take a breather.


I will be back later on after a surf session to look at some more individual longs.

Aloha.

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