NASDAQ Technical Picture - More Profit Taking on Higher Volume

Watch how price reacts to 2525. Feels like we are heading for a correction. The last time the ADX line dipped below 15, was just prior to the February meltdown. The MACD has just crossed over confirming the negative bias. Like Thursday, volume was higher on today's pullback.

The all important CPI data is scheduled for tomorrow at 8:30.

Companies moving in after hours trading in reaction to earnings: Trading Up: ATEA +34.3%; ACY +11.6%; ICFI +10.0%; HWK +9.4%; TBSI +6.8%; LONG +6.1%; ENCO +4.3%; RICK +3.4%; PCS +2.6%; LWAV +2.3%; SDXC +1.7%; MR +1.5%; KRY +1.3%... Trading Down: STEC -12.1%; GSAT -11.1%; PLTE -9.8%; CNTF -10.9%; CPII -4.3%; ARTX -2.5%; SINA -1.8%; GUID -1.2%... Companies moving in reaction to news: Trading Up: HTLD +5.0% (declares special dividends of $2.00 per share); CVTX +3.8% (submits New Drug Application for regadenoson; triggers $7 mln milestone payment); KBR +1.7% (awarded contracts for construction and fabrication services by Shell Canada for Scotford upgrader expansion)... Trading Down: ARAY -5.7% (amends announcement of its fiscal Q3 results); BARE -1.9% (files registration statement for public offering of 10 mln shares).