Wednesday, November 08, 2006

NASDAQ Technical Picture - Bullish Bias Intact

Despite a lack of sector leadership, the market pushed to a modest new closing high. CSCO earnings AH were very bullish. My only concern is the lack of enthusiasm in the ADX (momentum) line.

Economic indicators before the bell tomorrow: Import/Export Prices, Initial Claims, and Trade Balance. Prelim. Michigan sentiment is set for 9:50 and wholesale inventories at 10:00.

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