Posted by 2 March 2004

Work the Channel

The NASDAQ continues to act poorly. Today it sold off on higher volume after tagging the Jan – Feb downtrend line I drew yesterday. (The S&P and Dow also had distribution days today.) It’s now back below its 50-day moving average. I think it’s safe to assume that we’re heading back down to the bottom [...]

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Posted by 2 March 2004

Naz Still Lagging

The market had a nice price move upwards yesterday but the volume was still on the light side. The S&P 600 made a new all-time closing high, while the S&P 500 and Dow are very close to making new 52-week highs. The NASDAQ has actually poked its head back above its 50-day moving average by [...]

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