A lack of leadership following Thursday's bullish wide range bounce is being followed up by a slow give back. The best the bulls can hope for now is a higher low. Today's tech weakness was lead by networking and biotech stocks. On the broader markets, weakness in commodities, gold, and the energy sectors paced the way. Bearish momentum is waning but until a leadership group steps up for the bulls, we continue to flounder.
Monday, June 19, 2006
NASDAQ Technical Picture
A lack of leadership following Thursday's bullish wide range bounce is being followed up by a slow give back. The best the bulls can hope for now is a higher low. Today's tech weakness was lead by networking and biotech stocks. On the broader markets, weakness in commodities, gold, and the energy sectors paced the way. Bearish momentum is waning but until a leadership group steps up for the bulls, we continue to flounder.
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