Click on chart for larger view.Bullish Island Reversal
The Nasdaq gapped up and spent the morning rallying to close the bearish gap from Tuesday. In the afternoon it pulled back to 2300. Volume was above average at just over 2.0 billion shares. The Nasadaq closed above its 10 period EMA carving out a bullish island reversal off of yesterday's close. Semis keyed off of the favourable AMD results last night and decided that the INTC story was specific to it. Options expiration tomorrow - always difficult to play.
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