Commentary - Jul 25 2007 4:19AM
The market sold off hard yesterday in an ugly session. The breadth was extremely negative confirming the underlying selling pressure noticed in the last three days. We had two distribution days in the last three sessions and the S&P500 slipped below its 50EMA a level tested six times in the last two months. This is the level to watch in the short term trading.
Here an interesting chart:
Premier Exibitions Inc.
(PRXI)
rallied to a new all-time high last month. The stock is moving sideways in a cup & handle pattern since then. PRXI held well in the last days and this is encouraging for a potential rally continuation. Put it on your watchlist and watch for a breakout. .
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