The NASDAQ/NDX held their respective 50 day moving averages today…so far. A good hold goes a long way in this leading area setting up to move again. The SOX not as good but looks like it held the longer term 200 day average…so far. The SEMIS are much weaker and have recently been an anchor.

We now have a decent sized list of growth names sitting or bouncing right off the 50 day. Anything that breaks below gets moved to the side. There have also been quite a few of these names.

Unfortunately, even with the market coming back nicely today, most of the rest of the market just aint happening. Leading areas had better stay leading.

Lastly, we were asked how much weight we give to a shortened, lighter volume holiday week. To us, everything matters.