Friday, January 12, 2007

NASDAQ Technical Picture - Breakout

The NASDAQ broke out of its trading range on higher volume. The rally was paced by biotechs and healthcare on the heels of DNA's bullish earnings report. There was no participation by the $SOX. I expect that we will come back in to retest the breakout point soon.

Economic data for Friday: Import/Export and Retail Sales at 8:30.

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