Normally, I don't pay a whole lot of attention to what the overall market is doing. But as a RDWR long, I think the market will have an impact on RDWR's performance over the next 6 weeks. If the market rallies, I think RDWR will. If the market corrects, I think RDWR could test its mid-30's support.
Unfortunately, I am not much of a market level technician. My question is therefore to any TA expert out there: what does your TA tell you about the NASDAQ in the short term? I thought a lot of things point to a rally (particulaly with interest rate issues behind us), but with the index up around 50% year to date already, I'm not so sure.
with the nasdaq in record territory for the past 2 weeks or so, i dont believe theres any ta tool that will give u any insight to its future behaviour...thats the problem with tech analysis...no one has ever sold at the high or bought at a bottom based on tech analysis..at these extremes its a futile exercise..my own opinion is that the mkt has been grossly overbought for a week or so and its due a correction..whether the correction will come sonner or later- no one knows...for me- im fully hedged and not in rdwr..i sit on the sideline and wait to pick it up around 40 or lower depending on mkt conditions..if the mkt deteriorates i think ure absolutely right we would be able to buy rdwr around 30 and maybe lower.