Thursday, August 10, 2006

NASDAQ Technical Picture

After a minor breach on the open, the 205o pivot point held as support and the market managed to take back 11.5 points. No doubt, terrorist headlines kept some traders on the sidelines and the session felt like a low volume, NR, doldrum type of day. It's difficult to gauge where we might go from here, so I will be trading light until direction becomes a little more clearly defined.

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