Tuesday, June 8, 2010

State of the Market - 6/8/10

Sorry for the late post - had a meeting to attend.   I'll just show some charts here and take a look at what's happening in the markets via those charts.  Today the market bounced off of some key support and we could bounce here for a day or so, but I can't get very bullish until we see some real buying come into the market.  

Charts from Telechart, Courtesy of Worden Brothers, Inc.

If you're looking for potential bounce plays (short-term only) here are a few to perhaps watch.   I showed you some short candidates to keep on your watchlist last night.

Charts from Telechart, Courtesy of Worden Brothers, Inc.
 
I'm still in cash but if you must trade here, we could see a little upside the next day or so.  Of course, you know how well the market has followed through on any move recently, so be careful as always.   

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