Monday, July 09, 2007

Nasdaq Composite

Here is a weekly chart of the Nasdaq composite index. I last commented on this chart here.

As you can see the index has rallied into the target zone I have been watching. Lately this sector has been outperforming the S&P but I think this period of outperformance is about to end. In any event I don't think the index will move out of this target zone on the upside until another reaction at least as big as the March 2007 break develops.

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