After notching a fresh low for the week in early trade, the Nasdaq managed to stage a comeback in the second half of the day. Volume was average at 2.0 billion shares. The best performing tech sectors were the semis and hardware. The NDX performed quite well, with names like AAPL, JNPR, LRCX, DELL, INTC, and even GOOG finally adding some green. The Nasdaq carved out a bullish hammer but closed under both the trendline and the 50 period SMA. Overall, we are down about one point on the week. In general this week has been volatile and, at times, extremely sloppy. I hope that next week's action is a little more orderly.
Friday, February 10, 2006
Nasdaq Technical Picture
After notching a fresh low for the week in early trade, the Nasdaq managed to stage a comeback in the second half of the day. Volume was average at 2.0 billion shares. The best performing tech sectors were the semis and hardware. The NDX performed quite well, with names like AAPL, JNPR, LRCX, DELL, INTC, and even GOOG finally adding some green. The Nasdaq carved out a bullish hammer but closed under both the trendline and the 50 period SMA. Overall, we are down about one point on the week. In general this week has been volatile and, at times, extremely sloppy. I hope that next week's action is a little more orderly.
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