Friday, January 06, 2006

Nasdaq Technical Picture


Click on charts for larger views.
The performance of the Nasdaq this week was awesome. From Tuesday's low to today's close, the Nasdaq added 116 points. From the P&F chart above, I noted that the rally is expected to reach 2510 up from 2410 estimated earlier this week. From the current level of 2305, that gives us another 200 points. Expect a pullback or at least some consolidation as the market probably needs to pause after such a great run.

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