Thursday, July 19, 2007

NASDAQ Technical Picture - Gap Down


INTC earnings disappointment, sub-prime worries and Fed talk kept the bears in full control until midday. That was followed by a choppy afternoon snooze fest. Despite a very late session push, we have bearish gap resistance over head.

Economic Calendar: Intial claims at 8:30; Leading Ind. at 10:00 Philadelphia fed at noon and FOMC minutes at 2:00 EST.

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