Monday, January 09, 2006

Nasdaq Technical Picture

Click on charts for larger views.

There's no sign of a reversal on the daily chart despite the great run since the start of the new year. In fact, the ADX line is just now starting to turn up above 20. However, if we look at the longer range weekly view, we can see that we will be running into resistance shortly at the 2328 level which dates back to May 2001.



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