Late-day Rally

The market rallied hard into the close, finishing near the highs of the day. But volume ran below yesterday's levels. As such, I think it lacked real conviction, and could have been a wave of late-day short covering. I guess we'll see, as follow-thru will be the key.

I have a whole list of former leaders, whose charts show them all to be rolling over. This is another reason I don't believe this correction has run its course.

DELL reported after the close, and guided revenues lower for next quarter. That has knocked the stock down a couple bucks in after-hours trading. Likewise, JMDT lowered guidance and is getting whacked.