Thursday, February 01, 2007

NASDAQ Technical Picture - Resistance Holds on a Closing Basis

Two back to back gap fade sessions for the NASDAQ - in opposite directions of course. The two big news items highlighted in last night's post - DELL and GOOG failed to wow investors, setting us up for a lacklustre session.

Jobs data will likely set the tone for tomorrow's trading. Other economic data tomorrow include Factory Orders and Michigan Sentiment at 10:00.


Anonymous said...

that $COMPQ 15 min chart looks like a small cup and handle pattern :-)

Hopefully we break past the resistance tomorrow.


Jamie said...

Good eye MJ!