The NASDAQ didn't offer much in the way of surprises in this session. We tested resistance in the first half hour and pulled back. The middle of the day was very narrow range trade, followed by a strong finish. Led by biotechs, most tech sectors were able to add to yesterday's big gains. The one sore spot was the internet sector which gapped down and couldn't even manage a gap fill intraday. Expect more weakness from this sector after the AMZN miss tonight.
Tuesday, July 25, 2006
NASDAQ Technical Picture
The NASDAQ didn't offer much in the way of surprises in this session. We tested resistance in the first half hour and pulled back. The middle of the day was very narrow range trade, followed by a strong finish. Led by biotechs, most tech sectors were able to add to yesterday's big gains. The one sore spot was the internet sector which gapped down and couldn't even manage a gap fill intraday. Expect more weakness from this sector after the AMZN miss tonight.
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