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Tuesday Outlook: Oversold Conditions Remain

by: David Fry July 01, 2008 | about stocks: IEF / IWM / IYR / KBE / MDY / MZZ / QID / QQQQ / SCC / SDS / SIJ / SPY / SRS / TLT / TWM / UDN / UUP / XLF / XLI / XLY

David Fry

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Yesterday went about as one might expect with conditions short-term oversold at the opening bell. So we had our rally based more on these conditions and a dash of hope more than any positive news.

Really, we should rally a little here as end-of-month dividends get reinvested. They still have those right? Then there’s some typical upside action around July 4th possibly.

Volume was about average but breadth sucked royally. [Note: Something weird happens to Yahoo Finance just after 4:30--their ability to calculate columns is destroyed.]

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Related Stocks:

IEF, IWM, IYR, KBE, MDY, MZZ, QID, QQQQ, SCC, SDS, SIJ, SPY, SRS, TLT, TWM, UDN, UUP, XLF, XLI, XLY

More by David Fry

Tuesday Outlook: From Black Friday to Monday
on Dec 02, 2008 | about DVY,IWM,IEF
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on Dec 02, 2008 | about EEM,DBA,DBB
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on Nov 25, 2008 | about EFA,EEM,DBA
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on Nov 25, 2008 | about C,GOOG,DBC

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