Monday, August 07, 2006

NASDAQ Technical Picture - Narrow Range Trading Leading into the Fed

A narrow range day on decisively lower volume ahead of tomorrow's Fed policy statement. The NAZ shed 12.5 points and all major tech sectors ended the session in the red. I expect we'll see a lot more days like today as earnings wind down and we head into the real dog days of August, which is traditionally a very lackluster trading month.

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