Missing link – still one upday required for the SOX

Yesterday I assumed that the 13 for the SOX was mandatory today but due to a much lower opening we have not got the top yet.
XBD made the 13 yesterday though but the GS has still at least one day to go too – as it is at an 11 today.
NDX should test the lap area at 1400 today if it holds it will try the upside once again this week before profit taking should kick in and drive markets down by 10%.
The obscure stress test results after market close Thursday might deliver the trigger. We had yesterday a 93% up day that means all stocks on the NYSE trading up which is an extreme and the last 2 times that happened we had an consecutive down day of -1.8%.

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~ by behindthematrix on May 5, 2009.

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