Rally Resumption?

Posted by downtowntrader | 1/26/2006 09:22:00 PM | 0 comments »

We are not out of the woods yet, but with BRCM, MRVL, and MSFT up after hours it looks like tech will lead the way again tomorrow.

Nasdaq still needs to clear the trendline, but the technical picture doesn't lool too bad. Look at the convergence of the trendline and the fib retrace.
With an eye on tech's, it looks like FFIV will attempt a new 52 week high tomorrow.
CTXS pulled back from the gap up high and tried to fill the gap on the downside. Stopped short and looks like it will start a run towards the high.
Congrats to those who have traded in to SLW with me. I have posted the chart on several occasions. This looks very bullish for silver stocks.
SBUX is looking like it will break it's long time consolidation. I am showing two charts below showing why I think it will break. First is a fib fan of the daily chart. Look at how SBUX is starting it's move off the 50% line.
This chart shows a nice orderly consolidation and RSI broke the downtrend. MACD looks ready to cross and SBUX held support at 30.
CKCM tested support today and finished above it. Tomorrow should be the follow through day.
Nice break of the triangle for AIZ. I keep seeing AIZ on the gorillatrades ad's on IBD and they have good IBD ratings.

For daytraders: I think BRCM and MRVL will provide excellent daytrading opportunities tomorrow.

Good Luck,