7 Days running

Seven straight up days on nasdaq on higher volume. Very nice indeed. If you read back you will note that I expected a rally in early January, but I didn't expect this strong of a move. However, this move is already pretty strong and I am not seeing too many chart setups right now that have a good risk reward ratio. Not saying things will fall apart, but I'm not buying much right now.

Look at last 7 day rally on q's and see that it had to take a breather. We may see the same the next few days, if not a pullback.

Semi's may be the hottest group right now. Look at charts of AMD, MRVL, POWI, etc. SMH is looking a little tired but indicators are not seriously overbought yet.
Crazy Mad props to Btuff for putting LMIA on my radar a few weeks ago. This might just be the beginning of a nice move. Look at volume as it cleared previous high. MACD is just crossing. This should trade into the 20's soon.
RIO: Not crazy about this, but it did break the triangle.

SAY: This is one I've been waiting on to pull back. Didn't notice it had pulled back so far today. I will wait for confirmation here before acting on it.
PHLY: Also not crazy about this, again, thinking that the market will consolidate.
GROW:This is a chart request, but on a stock I have been watching. GROW retraced 50% of the last leg up which is healthy. It seems to me that it is still consolidating and that it will drift back a little more. I didn't show it in the chart to not add more lines, but it also retraced UP 61.8% from the 16.50 - 11.92 pullback. This is resistance until it is broken. I would wait before initiating a new position but wouldn't sell at this point if I was already in.
Good Luck,

DT

Also, check back tomorrow morning as I am preparing an analysis of MCX.