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%.
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%.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment