We got some follow through on Friday’s rally which pushed the S&P 500 and Dow to new multi-year high closes. The Nasdaq, for its part, was able to clear its 50-day moving average (although the $NDX is still below its 50 DMA). Despite the new highs on the Down and S&P I still consider them to be range-bound. Both indices are just a hair away from their February intraday highs — just one good buy program away from a breakout. What a great recipe for an exciting options expiration. Brace yourselves.
Here are charts of the Nasdaq S&P 500, Dow and Google:
Hey Mike,
So what’s your opinion on GOOG? Looks like it’s gonna have to create a new trend in a week or two.
I’m pretty much neutral on GOOG right here. GUn to head I’ll chose to be a bear. I posted a chart of Google here – http://tradermike.net/2006/03/a_few_charts