The NASDAQ gapped up above 2200 resistance on a fairly benign core PCE figure this morning and traded in a narrow range for the rest of the session. Volume was extremely low due to the long weekend ahead. All major tech sectors were in the green with biotech pacing the way and software just holding the unchanged line. The P&F chart reversed it bearish signal today with a new target of 2360. From today's close of 2210, we have a potential 150 points to the upside. The stochastics are lifting from the extreme oversold level and the ADX line looks like it wants to stabilize, both of which could be bullish short-term for the market.
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