Wednesday, March 19, 2008

NASDAQ Technical Picture - Profit Taking


We've retraced all of the post FED gains and almost 62% of the surge off of Monday's lows. Oil, gold and commodities in general led the way down. Tomorrow is options expiration which may account for some of the volatility. It's up to the bulls to defend either of these green support lines.



2 comments:

Anonymous said...

Do you really think the bottom is near? I don't. Just my own humbled opinion. :)

TJ said...

Not sure either, but all of these offset bars suggest that a reversal is possible.