Thursday, July 10, 2008

NASDAQ Technical Picture - Chop Fest

Sloppy, choppy and volatile. The intraday chart tells the story. Energy/commodities were strong and an intraday spike in oil cracked the rising wedge.

The light sweet crude chart below shows some negative divergence of the MACD and RSI to higher prices. Two NRIBs on the base of the trend line look promising.

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