Another very bearish session for the Nasdaq which shed 23 points on higher volume. In addition, breakout support was breached on a closing basis and both the MACD and ADX had confirmed bearish crossovers. The only positive thing to note is that the McClellan Oscillator is giving a relatively oversold reading. All sectors were bearish lead by biotechs, networking and semi. The biggest NDX losers were CELG, JDSU, and ISRG. JDSU seems to show up in the top three losers almost every night. Isn't that one of Cramer's top buy picks? This afternoon's trade was sloppy, I think we're due for a bounce.
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