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July 7, 2006 Stock Market Recap


The bulls can’t be happy with Friday’s trading as the market sold off on slightly higher volume and started to eat into the post-Fed rally. In fact, the Nasdaq is basically exactly where it was the minute the Fed statement was released. The Nasdaq 100 has given back all of its post-Fed gains and then some. The S&P and Dow are faring a little better but the people who bought into the Fed rally hype must be sweating right about now.

Here are charts of the indices as well as some of the better looking individual stock charts (all shorts) I found:

The Nasdaq has slipped back into the June trading range:

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