Renewed optimism from some tech bellwethers such as SUNW and YHOO brought a wave of buyers back into the NASDAQ. The NASDAQ completed a bullish three day morning star reversal pattern paced by internets and hardware. Look for possible continuation tomorrow on the heels of EBAY's $0.03 earnings beat (EBAY shares up 12% in AH). We are approaching resistance at 2475 again, so keep that in mind if we gap up on the open.
Wednesday, January 24, 2007
NASDAQ Technical Picture - Bulls Taking Back Control
Renewed optimism from some tech bellwethers such as SUNW and YHOO brought a wave of buyers back into the NASDAQ. The NASDAQ completed a bullish three day morning star reversal pattern paced by internets and hardware. Look for possible continuation tomorrow on the heels of EBAY's $0.03 earnings beat (EBAY shares up 12% in AH). We are approaching resistance at 2475 again, so keep that in mind if we gap up on the open.
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