Today was a pretty good day for the bulls, although sellers did step in late in the day to push the market back down a bit. The NASDAQ and S&P were stopped at those downward sloping trendlines I’ve been pointing out. (damn those technicians!) The NASDAQ chart really illustrates how the bears got trapped by [...]
Posted by 9 December 2003
Right at Support
It certainly got ugly today, especially on the NASDAQ. Once again it’s broken below its 50 day moving average. It’s also sitting just a few points below its May – November trendline. The NASDAQ 100/QQQ was able to make a tiny bounce off of its corresponding trendline to close above the line. So we’re right [...]
