Monday, March 13, 2006

Nasdaq Technical Picture

After gapping up about 8 points, the Nasdaq extended its gains in the first half hour until resistance was hit at 2280 (50 day MA). The rest of the day was spent trying to close the gap. In the end we gained 5 points and carved out a narrow range bar similar to a spinning top on just 1.7 billion volume. The SOX was the weak link and the NWX sector was strong. Sounds familiar. Today's NDX winners were FAST, ATVI, and PTEN.

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