I really want to be more bearish right now, especially when I look at the major indices. But after going through my scans I’ve come up with 27 long candidates vs. 6 shorts. (Thankfully half of those longs report earnings this week, so I was able to chop that list in half.) Given that ratio, and the NASDAQ’s ability to hold at that 2110 support again, I’m expecting another attempt by tech stocks to push higher. Many of the stocks on my list are semiconductor companies, and I think it’s interesting to note that the SOX has pulled back to (near) its middle Bollinger Band. That’s what I’ve been wanting the NASDAQ to do so I could find some nice pullbacks. They’ve shown up in the semis.
