Even though the Asian and European markets rallied today, we managed to take one step back after going two steps forward yesterday afternoon. However, we have a lot of positive divergence building in the RSI and I still believe we will manage some sort of corrective bounce off of the 2100 level. Let's hope that next week's economic calendar is positive enough to get buyers back in. Tuesday and Wednesday will be the critical release of the latest inflation figures at the producer and consumer levels. BB will be monitoring these closely. Most tech sectors ended the session in the red, however, there was no technical damage.
Friday, June 09, 2006
NASDAQ Technical Picture
Even though the Asian and European markets rallied today, we managed to take one step back after going two steps forward yesterday afternoon. However, we have a lot of positive divergence building in the RSI and I still believe we will manage some sort of corrective bounce off of the 2100 level. Let's hope that next week's economic calendar is positive enough to get buyers back in. Tuesday and Wednesday will be the critical release of the latest inflation figures at the producer and consumer levels. BB will be monitoring these closely. Most tech sectors ended the session in the red, however, there was no technical damage.
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