Thursday, January 25, 2007

NASDAQ Technical Picture - Bearish Engulfing Pattern

Another WR red stick, the third in six sessions, and this time it's an ominous looking bearish engulfing bar which closed below the 50 MA. It's starting to feel like the bears are going get the upper hand. We have minor support at 2425 and then we're looking at 2400. MSFT guidance after hours was not compelling...

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