Tuesday, May 27, 2008

NASDAQ Technical Picture - Relief

H&S top is playing out according to plan.

The 15 min. chart looks like an inverse H&S bottom. On a measured move basis, we can expect to climb back up to resistance at 2510.

S&P much weaker than the NAZ, but 50 SMA held as support today and prompted a somewhat choppy, low volume relief rally.

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