The Nasdaq shed another 22 points today, half of which came off at the open. Volume was below average at 1.7 billion so the selling pressure seems to be letting up here. It was a very slow morning with some downward movement from 1:00 - 3:00, afterwhich we bounced lightly into the close. Not much to say here except we don't seem to be in any hurry to go anywhere. The ADX line is very low at 14.5, a level it has not seen since mid-March 2005 and which confirms the lack of momentum.
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