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As I discussed yesterday, with many market players away from their desks as we head into a long holiday weekend, the presumption is that the bulls will have an edge. Thus far today, we are not seeing many eager bears pressing shorts here. Instead, we have a low volume drift higher that looks to be picking up steam as I write.
I see plenty of charts that are acting far more constructively than they have in months. However, I am going to wait until at least next week to see if we either get follow-through, or if this week was nothing more than a respite before we go lower. However, it is encouraging when I can hold a name like EXPE, watch it breakout, and then set up again and look poised to move even higher. I also have my eyes on VECO, due to it solid daily chart and massive short squeeze potential.
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