Recovering

Probably the most unspectacular 3- day/ 50 pts move as still high beta/ growth names (only a few did) find it still difficult to get a bid.  Still, today may have been the start.  This is the missing link, if the market has thoughts of getting over the “R” 50MA/20MA (almost a cross here), it needs to find this bid and join in.  All in, the unknown Japan drag is likely overblown, but optimism isn't back here yet.  

We cited the strong moves in Euro chips premarket as a prelude to today’s upside move (SOX >1.8% and semi equip led in US), add TIF and M&A activity and we had a gap followed by a tight ~5 pt range rest of the day

At least today as nuclear fears abate, some corporate fears relating to earnings receded as well with TIF’s report, but we need to see some comforting tech words ahead this week so investors see value oppy' here next.  Simply, this where we'd look now for a long trade to materialize.  

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