First, I plan on doing a ton of charts this weekend. If you have any chart requests, leave a comment or email me. If you're gonna ask for AAPL or GOOG save your time, I'm going to do those two.
It was a real bad day in tech land today with the Nasdaq breaking its 50-day moving average on very high volume. Even worse, the tech leaders everybody's been hiding in, like GOOG, AAPL, BIDU & RIMM, got crushed today. That pushed the Nasdaq-100 ($NDX) into a limit-down situation mid-day:
Tech-heavy Nasdaq 100 index fell as low as –4%. The performance had Toddo commenting on the Buzz, “NDX is trading Limit Down, which means that it cannot trade below this level for ten minutes….
Here's the Nasdaq chart:
The S&P 500 ended the day near unchanged thanks to a late day rally. It looks like it's set to teeter around the 200-day moving average for a while.
One downgrade today...
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Up | Lat | Down |
| Intermediate | Lat(-) | Down | Down |
| Short-term | Down | Down | Down |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
*** I'm simply using the indices' relations to their 200, 50 and 10-day moving averages to tell me the long, intermediate and short-term trends, respectively.
GS would be just lovely. Thanks!
Would you do a chart for LULU? is 42 a buy or sell in short term?
I'm in EBAY and would love to know what you think. If you're tired of tech, I'm looking at WAG lately. Thanks.
Yes GS Thanks
Oh yeah, GS is a good one right here around the 50 and 200 DMAs :-ss
chart request:
abax
Today was not a serious break, in my opinion. The Financials made a short term low and reversed and the broad mkt was relatively firm throughout. More like a catch-down day for the GoGo stocks.
Looking for a lower high failure to set-up next...we'll see; one day at a time obv.
Good trading
Great recap, as always.
GRMN or PG please.
Thx.
oih if you get time!
:d
Mike
Did you get some VMW ?
No, I haven't touched VMW... yet. I'm thinking about it but I want to see it stabilize around the 50 DMA
LDK chart please, thanks
I wouldn't be surprised if we saw the market taking breather this Friday. As everyone ponders whether the late day bounce back is meaningful or not. Technically, I think we're starting to see a volatile sideways market.
Colin
solar's been hot but took a beating on friday
11/7, what's your outlook on ESLR?
FXI and/or the SHANG-HAI INDEX
Thanks