Wednesday, September 03, 2008

NASDAQ Technical Picture - Dumping Tech

Weak global demand for energy and commodities is permeating to technology as the NASDAQ continues to sell-off. The demise of the Ospraie hedge fund is likely spreading fear and other funds are probably busy unloading. S&P strength was courtesy of financials and consumer discretionary

Economic calendar: Initial claims, productivity in pre-market; ISM services at 10:00, and Crude inventories at 10:35. Also ADP employment in pre-market.

No comments: