The NASDAQ carved out a narrow range inside day on lower volume all of which suggests a decrease of sell side momentum. I was disappointed to see so little buy interest at this oversold level. Much of the day felt like a repeat of yesterday. Hardware was the weakest tech sector and the SOX was the strongest although all screens are still turning up red.
Tuesday, May 16, 2006
NASDAQ Technical Picture
The NASDAQ carved out a narrow range inside day on lower volume all of which suggests a decrease of sell side momentum. I was disappointed to see so little buy interest at this oversold level. Much of the day felt like a repeat of yesterday. Hardware was the weakest tech sector and the SOX was the strongest although all screens are still turning up red.
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