The first half of the day had more spark than I had anticipated, conversely, the response to the FED policy was more negative. It may have something to do with the 10 year yield combined with the lack of any indication as to when the rate hikes will come to an end, whatever it is, the markets don't like it and will likely correct in the near term. A close below the 50 day MA will be very bearish. The SOX led the way down and the internets were amazingly resilient in the last hours of trade.
Tuesday, March 28, 2006
Nasdaq Technical Picture
The first half of the day had more spark than I had anticipated, conversely, the response to the FED policy was more negative. It may have something to do with the 10 year yield combined with the lack of any indication as to when the rate hikes will come to an end, whatever it is, the markets don't like it and will likely correct in the near term. A close below the 50 day MA will be very bearish. The SOX led the way down and the internets were amazingly resilient in the last hours of trade.
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