After the blast higher on the back of the big move alert and long signal, we are back to the top of the recent trading range. The optical sector is being hurt after hour on FNSR’s soft guidance tonight and CIEN’s weak outlook yesterday. This may pressure the technology stocks tomorrow. The signals are back to a more neutral stance. In the recent choppy environment, that had often translated to downside shortly, so we have to be a bit cautious going into tomorrow. On the gut level, I can’t help wonder if we will get another v shaped low volume continuous POMO bounce if we get more retrace from crude oil. By the way, Jeff should be back tomorrow, I am sure everyone will be very glad to have him in chat.
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