Although we were still on holiday lightened volume, today's selloff was energy related and touched all major tech sectors. Pacing the way was the SOX followed by software and hardware. DDX (disk drive) managed to close in the green. Although we took out last week's low, the late day bounce brought us all the way back to 2311 after trading as low as 2299. Today's NDX losers were topped by JDSU, RHAT, and CHRW. The winners included CTSH, FLEX, and PTEN. Hopefully, with the onslaught of earnings scheduled over the next three days, we can start trading off of more than just rising energy and commodity prices.
Monday, April 17, 2006
Nasdaq Technical Picture
Although we were still on holiday lightened volume, today's selloff was energy related and touched all major tech sectors. Pacing the way was the SOX followed by software and hardware. DDX (disk drive) managed to close in the green. Although we took out last week's low, the late day bounce brought us all the way back to 2311 after trading as low as 2299. Today's NDX losers were topped by JDSU, RHAT, and CHRW. The winners included CTSH, FLEX, and PTEN. Hopefully, with the onslaught of earnings scheduled over the next three days, we can start trading off of more than just rising energy and commodity prices.
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