If you take a look at the Dow 30, Nasdaq Composite, and the Vix, they all look to be forming a range or channel working towards the 50 day sma. The bearish flag on the Dow/SP/Wilshire/NYSE are essentially ranges with today's rally off the bottom of the flag. Nasdaq looks less bearish but is still below the 50 sma. The market is looking more like it needs some range bound action...accumulation...before getting into bull market territory again.
Day trading remains the name of the game for now. RIMM was my only day trade today, went 113% on margin and took a quick 40 cents in a 30 minute trade. Made 1.4% on the account...took me more time than that to eat my lunch afterward. I'll take it...one more brick. Good luck rest of the week.
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