NASDAQ Technical Picture - Price and Volume Contraction

We gapped into resistance from Friday's high and then it was a slow fade.

Companies moving in after hours trading in reaction to earnings: Trading Up: STEC +7.6%; NTO +5.4%; PTEK +4.2%; ACOR +3.1%; CPII +2.7%; EXM +2.4%; NTES +2.0%;... Trading Down: NPLA -20.6%; FACE -17.4%; ANSW -16.6%; ARII -8.0%; CNTF -7.6%; JMBA -6.8%; BDCO -3.5%; DV -3.4%; KCAP -2.4%; DTE -2.3%; HRBN -1.6%; SDXC -1.4%... Companies moving in reaction to news: Trading Up: CBAK +29.2% (signs letter of intent with Hewlett Packard); KBX +17.1% (lowers Q2 EPS below consensus); NLS +3.8% (announces Gregg Hammann to step down as CEO); ABG +3.2% (authorizes 2 mln share repurchase program); CLMS +2.4% (announces COO and CFO Patrick Dudasik to retire in 2008); GETI +2.1% announces delay in filing 10-Q and postponement of earnings call); CR +2.0% (acquires Mobile Rugged Business of Kontron, America; co sees acquisition will be neutral to earnings in 2007)... Trading Down: ETEL -7.0% (announces termination of client program and lowers Q3 and FY07 ADS guidance below consensus; lowers Q3 and FY07 revs guidance); SRDX -3.1% (acquires BioFX Laboratories); HIBB -1.5% (lowers Q2 EPS below consensus); CHH -1.5% (enters into master franchising agreement in Ireland with Kasterlee Limited); SSW -1.2% (to offer 4.5 mln common shares); VRSN -1.3% (announces a $1.1 bln convertible notes offering).