Friday, March 7, 2008

Rally After Gap Down

After a gap lower, things are really starting to heal up. The Nazz is leading and both the RSP (unweighted S&P) and XLF are outperforming the S&P by a considerable margin. I think things have gotten a bit overdone and we might be in for a bit of a rally here (i'm seeing one as typing). We're slowly moving towards positive, but I feel sure we'll get there if not more.

We'll have to see if this holds into the afternoon. Previous rallies have faded and this one could just as easily do so as well.

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