MDM - Model switches to BUY on July 26, 2012
Over the past few weeks, the NASDAQ Composite did not correct more than 6% so the count for a follow through day was not reset. With volumes greater on both the NASDAQ Composite and S&P 500, and both indices up the required amount, today counts as a follow through day. With AAPL's disappointing earnings report, AAPL is in a basing process or may have even topped. In either case it would no longer be a market leader for at least the interim. Meanwhile, other stocks in technology, especially in the biotech space are acting well.
Knowing that the market is still in a slop and chop zone, position size accordingly.
TECL (S&P Technology Select)
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