Friday, June 27, 2008

Bull Flag Bounce

Downward momentum has really slowed today in the broad indices. About three hours into today's trading session the DJIA, Nasdaq and RUT are down slightly. The S&P is just above breakeven. A number of stocks are enjoying support bounces this morning. Ag-related stocks are enjoying a nice support bounce in their six day old bull flag. Coal related stocks are also bouncing. Friday Morning Action Moving Up: POT, MOS, ANR, SCHN, STRA, AGU, MEE, CF, CLF, BTU, FWLT, MON, X, IPI, CELG, NKE, CNX, V, DRYS, SOHU, MTL, NUE, GRMN, ESRX Moving Down: FSLR, BIDU, RIMM, MA, PCLN, AMZN, DECK, IBM

2 comments:

Pat.J said...

Dave

I heard an analyst talk briefly about the Russell rebalance.
When could this happen, and what may it do?

Thanks for your support.

Dave Johnson said...

Pat j,
I believe the rebalance day is today, June 27.
DAve