Entergy (ETR) has dropped swiftly and there is clearly downward momentum that could see further price erosion eventually although it may try to stablize beforehand.
Parametric Technology (PMTC) moved above the 50-day moving average on above average volume and could be targeting the $20 level again in coming sessions.
The Oil Services Sector, OIH, continued its advance yesterday, but the session closed with a notable spinning top on very heavy volume, which can sometimes be seen at market inflection points.
Timberland (TBL) surged almost five percent on very heavy volume on May 7, and the pullback pattern and the positive MFI characteristics could be pointing towards a resumption of the upward momentum in coming sessions.
The chart for the Nasdaq Composite index (^IXIC) illustrates the inability of the broad market to enjoy the bullish dynamics that are still propelling many of the large cap issues.
The chart for the Russell 2000 has been under-performing the large cap indices for some time. A failure to rally off the 50-day moving average would suggest an underlying change in dynamics for the equity market as a whole.
Micron Technology (MU) peeked above the top of the range that has been in place for several weeks and the momentum should propel it further upwards from the ascending wedge formation.
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