Monday, August 21, 2006

NASDAQ Technical Picture - Low Volume Consolidation

This type of low volume consolidation is very bullish. Another day or two like this will give the 10 day EMA time to catch up to price. The SOX and internet led the pullback. Some of last week's big winners were today's big losers, however, BRCM and NVDA, the two worst performing NDX 100 names, only gave back 3.7%.

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