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Sunday, February 05, 2006 

Nasdaq technical Bearish

Chart courtesy of stockcharts

U.S. stocks ended lower Friday, capping a week of losses for the market after the Federal Reserve left open the possibility of further interest-rate increases. The Nasdaq Composite Index fell 18.99 points to 2,262.58, closing below the MM50 for the first time since November, really a bad signal for the Bulls. According to chart above the Nasdaq is now technical in a bad situation with all indicators showing Bearish signals as MACD , Fullsthocastic and RSI.
The Lastest news about Iran will go pressure the markets due to all uncertainty with this big problem, so next week could be one week decisive to decide the direction of the markets in the short-medium term.

That's All. Have a great weekend !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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