Monday, July 10, 2006

NASDAQ Technical Picture

The NASDAQ shed another 13 points on relatively low volume. Networking and hardware paced the way down followed closely by the SOX. Technically we could bounce here, but we need to see a higher low on the 60 minute view.

If we can't bounce off of the is minor trendline, I don't think 2100 will hold as support on the fourth test.


AJ said...

Do you think Alcoa could lead the markets down tomorrow?

TJ said...

Futures are down just slightly, so I would have to say that the AA factor may not be foremost in determining the market direction tomorrow, however, it could have a significant impact on the sector.