The Nasdaq bounced off its 50 day moving average, but has failed to make a new high, while the Dow and the S&P500 have each hit new rally highs. Momentum is somewhat deteriorating on the NASDAQ, even though trend is still up.
% of Nasdaq issues at 30 day highs
Technimental’s Kevin Lane notes “There is a clear line in the sand at the 2,000 level, a close below this support area, given the fact momentum already is in a weakened state, would create the long awaited corrective wave. Remember however, this idea is off the table as long as we stay above these supports levels.”
Greenspan’s Deep Job Analysis Affects Policy
The unemployment rate is only the beginning of the problem
Coming Soon: $3 per gallon gasoline?
Big and Bad
Search For Tomorrow
View From the Right: Tax Increases Ahead
Quote of the Day
“I’m not advocating tax increases, I’m predicting them.”
–Bruce Bartlett , Senior Policy Analyst for President Reagan