5 JUL 2011, Tuesday (AM)

• Hope you all enjoyed the long weekend...I know I did!
• Now...back to work.
• Short term is positive but overbought.  Intermediate term is trying to turn up (above all MAs).  Confused?  Ya oughtta be.  That is exactly the spot we are at.  Will be trying to determine what my next preference will be.
• Big one way run this past week.  Even sprinters need to breathe eventually.  Perhaps that's what this will be, a breather, before earnings season kicks off next week.  So...correction in price?  Or time via a consolidation.  Don't know, will have to see what is dealt and play the hand.  I do not chase anything.  When I have, I have typically regretted it.
• Sooo....will be a slow start to the week for me as I come back out of weekend mode.
• Monthly seasonal below indicates that July is typically a positive month...August and September can be the buggers.