Monday, August 14, 2006

NASDAQ Technical Picture

Not even a ceasefire and lower oil could get this market to rally for more than a few hours. The market seems to be almost entirely focused on inflation. Tomorrow's core PPI and Wednesday's CPI will get more attention than geopolitical events, but its doubtful that much has changed since the last time round. Although most major tech sectors managed to hang on to early session gains, the afternoon swoon was not very inspiring for bulls.

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