After a strong open, the market peaked at noon and sold off in the second half of the day leaving the session unchanged. In so doing, it carved out a lower high which should serve as an early warning sign that things could get bearish again. A close below the lower pivot point will confirm the weak bias.
Wednesday, August 09, 2006
NASDAQ Technical Picture - A Lower High Signals Weakness
After a strong open, the market peaked at noon and sold off in the second half of the day leaving the session unchanged. In so doing, it carved out a lower high which should serve as an early warning sign that things could get bearish again. A close below the lower pivot point will confirm the weak bias.
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