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Mike's Free Mid-Day Analisis
Wed Apr 30th 2008
Minor Completed Pullback in ADR 50 ETF
By Mike Paulenoff, www.MPTrader.com

The pattern carved out by the BLDRs ADR 50 ETF (NASDAQ: ADRE) during the past several sessions has the look of a completed minor pullback within the dominant upleg off the March low at 45.09. Provided the policy action the FOMC does not create a plunge to the downside, the ADRE should begin a climb to new recovery highs above 54.80, projected into the 55.80-56.20 target zone.

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