Sunday, August 20, 2006

NASDAQ Technical Picture

After opening weak on DELL's earnings, the NASDAQ managed to close higher than Thursday by 6 points. Notwithstanding the overall market strength in the face of bellwether weakness, Friday's options expiration session was a real snooze fest and most stocks on my watch list were not tradable.

If we can consolidate a bit more early in the week, that will leave the door open for further upside in the second half of the week (not a prediction, just wishful thinking).

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