The Nasdaq Composite is nearing a confluence of several
technical factors. We see initial
resistance at the 200-day

moving average (1995). The downtrend line from the December
highs is at 1996. Further, the Nazz has
retraced 50% of the losses from the March highs to the recent lows, near 1,995.

Nasdaq – 6 Month Chart
click for larger chart


Source: Mike
Panzner, Rabo Securities

The 2,000 resistance level also offers psychological
resistance, and is the bottom of the prior trading range’s support (now
resistance). The Odds favor a short-term pullback.


Random Items

I Want My Safety Net

Experts Are at a Loss on Investing 

Everybody’s wrong about the Video iPod thing

‘Rocketboom’ May Be Future of TV News  

Strategic Investment Analysis of Neurological Diseases

8 Types of Advice

Everything You Always Wanted to Know About Blogging


Quote of the Day

"In the stock market those who expect history to repeat
itself exactly are doomed to failure."

-Yale Hirsch


Category: Economy, Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

Comments are closed.