Friday, September 12, 2008

NASDAQ Technical Picture - Bullish Engulfing Bar

Pre-market weakness in financials and the sell off overseas, resulted in sharp gap down on the open. But after the first 20 minutes or so, things turned into a gap fade, followed by an extension in the afternoon.

After hours the Washington post is reporting that the treasury and federal reserve are getting involved in the sales of Lehman to a consortium of private firms.

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