Click on chart for larger view.The Nasdaq gapped lower this morning on news on INTEL's ailing revenue expectations. It then spent much of the day rallying back up to its trendline. The afternoon gave way to intense selling especially in the semi sector. So we have an inverted hammer on higher volume in a weak uptrend. An inverted hammer in a downtrend is usually bullish, so I guess in this case, the converse would be true. We'll find out next week. Although semis were the hardest hit, most tech sectors ended the day in the red, with NWX just hugging the unchanged line. Today's biggest losers in the NDX include: TEVA, ATYT, SNDK and AAPL. Have a look at my earlier post to get a good picture of the rising wedge pattern that is developing on the 60 minute chart.
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