Mike Paulenoff
10-13-2006, 11:40 AM
Maybe the Internet sector will begin to participate in the overall Nasdaq upmove now – now that YHOO appears to have established a final corrective low at 23.57 this AM – and has reversed into positive territory.
If that proves to be true, then the major drag (28%) from YHOO on the HHH has been lifted, which should enabled the ETF to play catch-up in a hurry. Based on the enclosed daily chart, a hurdle of 50.41/50 should trigger acceleration to 52.30/70 thereafter.
Read more and view the technical chart analysis at http://www.mptrader.com/markets.php
If that proves to be true, then the major drag (28%) from YHOO on the HHH has been lifted, which should enabled the ETF to play catch-up in a hurry. Based on the enclosed daily chart, a hurdle of 50.41/50 should trigger acceleration to 52.30/70 thereafter.
Read more and view the technical chart analysis at http://www.mptrader.com/markets.php