Rally still intact

Posted by downtowntrader | 7/11/2006 10:08:00 PM | 0 comments »

The markets rallied off their lows today and the Nasdaq held support near 2100 again. The fact that semiconductors led the way bodes well for the indices as they have been the real drag lately. There are a lot of hammers on the daily charts again and there are some decent looking charts around.

SUG looks like it may find support at the breakout area.

KSS is holding above the trendline and looks like they may bounce here.
ADS has been pulling back nicely and the ADR is narrowing.
BIDU continues to trade this tight range and should have an explosive move to either direction, although a bullish move is more likely.
HBHC looks like it will breakout out of this triangle base.
HLTH had a nice volume increase today as they held support.
PFG has come back to the breakout area and is offering a decent entry.
CHRW is also looking like it may hold support near the blue trendline.
LVS is another one coming back to test support at the previous breakout area.
IBCA has been consildating for months now, and may be ready to clear this base.

Let's see if the markets follow through over the next couple of days.

Good Luck,