Tuesday, September 12, 2006

NASDAQ Technical Picture - Midday Rally

I'm still favoring a lower high and a deeper pullback to gap support. The NASDAQ opened weak today and then staged a midday rally led by the SOX (MXIM, MCHP, and NVDA). However, we are still lacking in volume and momentum feels like it is fading. It's a stock pickers market for the time being.

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