NASDAQ Technical Picture - 200 DMA Captured on Closing Basis

Okay, so we made another new high and held into the close to take out the 200DMA. Yesterday's bearish rant was foiled early in the session when we failed to confirm yesterday's shooting star. We chopped our way back up after testing yesterday's low as support early in the session. Again, we got relatively little participation from large cap tech leaders AAPL, RIMM, GOOG and BIDU. Instead the leaders of today's NASDAQ 100 rally were losers such as NVDA and FMCN. Today's higher volume is courtesy of pre-options expiration, not to confused with bullish momentum. Enough said, the real test of the strength of this rally will be resistance from former support.