Thursday, August 24, 2006

NASDAQ Technical Picture - A Weak Open and a Strong Close

Today's low volume choppy session was a bit of a snooze fest in the morning. However, the afternoon session perked up a bit and I noticed that many of my usual suspects closed the session strong, which leaves me optimistic going into tomorrow. The NASDAQ carved out a NR hammer like stick on low volume. Despite the morning swoon, no technical damage was done and the all important SOX had a great afternoon led by a huge rally in SNDK on a Caris upgrade.

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