Another lower volume day for the Nasdaq as it came within 2 points of touching the green support line. A nice bounce mid-morning which gave some momentum stocks a lift. The afternoon was pretty slow. So far we have a nice orderly pullback. Today's candlestick formed a doji which leaves Tuesday's prospects open to reverse. Earnings season starts next week and we all know how that can create havoc.
Friday, January 13, 2006
Nasdaq Technical Picture
Another lower volume day for the Nasdaq as it came within 2 points of touching the green support line. A nice bounce mid-morning which gave some momentum stocks a lift. The afternoon was pretty slow. So far we have a nice orderly pullback. Today's candlestick formed a doji which leaves Tuesday's prospects open to reverse. Earnings season starts next week and we all know how that can create havoc.
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