Tuesday, March 14, 2006

Follow-Thru Right On Cue

What a solid day in the market. According to IBD's research, most market follow throughs come in the form of an accumulation day 4 to 7 days after an initial rally attempt. By my count, this would qualify as day 5 after last Wednesday's strong upside reversal day.

That doesn't guarantee anything, but it is another bullish data point to go along with improving technicals and still skeptical sentiment. More often than not, that is a good recipe for future gains. GOOG and AAPL put in very solid days, and it looks like both stocks have bottomed for now. I will be looking for more breakouts to come if the market stays strong.


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