Quick Look at the Nasdaq Chart

This morning I was all ready to post some charts and talk about why, even more so than yesterday, I was concerned about shorting due to the potential for a reversal. I was thinking that I’d probably tread lightly if I even traded at all today. Well when I got to my computer I noticed that my internet connection was down. I called Comcast and learned that there were connection issues throughout the city so I just took that as a sign to take the day off.

So now things are back to normal and I see that the Nasdaq has made one of those textbook bounces off of support.

I also see that URBN and BEBE, the two retailers that I mentioned were bouncing nicely yesterday, had very strong days today. There are a ton of interesting charts out there right now. I’ll post a bunch of them in a few hours.