Stock Market Video Technical ANalysis Review 8/7/07

After all the recent doom and gloom, the market seemed to be looking for a reason to rally and today it found one. Once the initial volatility that typically follows a Fed announcement was cleared, buyers took control by pushing past the recent downtrend lines on the intrady charts we have been watching and it now looks like the upside targets I outlined yesterday could come into play. The daily charts are still deeply damaged right now which means you need to keep stops in place as volatility is likely to remain high. Remember, DEFENSE WINS THIS GAME!