Remember Minyans, technicals are only one ingredient in the trading mix!
The Minx explodes out of the gate and, while we saw massive QQQ and SPY buying pre-opening, we're actually seeing some plain vanilla accounts (read: institutions) making sales in Microsoft (MSFT:NASD), Intel (INTC:NASD) and the rest of the big cap tech names.
The morning breadth is snazzy and jazzy, to be sure, and the S&P is sitting above the 1040 breakout zone (the NDX is marginally below the magic 1406 level). Still, this is what I'm seeing and I wanted to pass it along.
I'll be bah-hak!
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