Well today seems that we finally getting a major correction on the market but the indexes rallied back creating a U shape graph for the day. This really shows any kind of drop will be quickly bought off by bears that needs to cover their shorts. Do not get me wrong, we are way over due for a pull back and that is better for the rally to continue, right now we are still consolidating within the channel, and If we continue to hold around that area I see the market having the possibility of breaking to the upside. Techs seems like they are over bought and might be going on a downtrend, the sector I'm interested right now is commercial real estate, I'm not saying we are officially in a real estate rebound but seeing how the SRS has been hammered lately, we are getting better slowly, and now investors believe real estate can not go any worse.
Vix bounced off the trend line I drew yesterday but closed by again trying to break downwards, we shall see such if attempt is successful tomorrow.
Institution buying and selling pattern
Up more from last time, seems that institutions are buying into this rally slowly.
Here is some tickers to keep on the watchlist:HOV, MPG, FR, DCT, BZH
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