I'm expecting more consolidation at least until we get the jobs data on Friday and maybe until next week's elections. In the meantime, biotechs and semis seem to be the best positioned sectors for longs. Internet stocks which have been the leading tech sector of late, may be due for a pullback after disappointing earnings from BIDU. Economic data tomorrow: Construction spending and the ISM index at 10:00 EST; followed by Crude inventories at 10:30. GRMN reports before the bell and BOOM after hours.Tuesday, October 31, 2006
NASDAQ Technical Picture - Another Consolidation Day
I'm expecting more consolidation at least until we get the jobs data on Friday and maybe until next week's elections. In the meantime, biotechs and semis seem to be the best positioned sectors for longs. Internet stocks which have been the leading tech sector of late, may be due for a pullback after disappointing earnings from BIDU. Economic data tomorrow: Construction spending and the ISM index at 10:00 EST; followed by Crude inventories at 10:30. GRMN reports before the bell and BOOM after hours.
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