Chart of the Week: Nasdaq Comp: 52 Week Highs/Lows

The 10-day MA of new highs-new lows on the NASDAQ (green
line) is still trending below the zero line. While it can gauge oversold levels
is also suggests that conditions are weak and deteriorating.

Nasdaq Comp: 52 Week Highs/Lows
click for larger chart



Kevin Lane observes “After breaking an accelerated up trend
the S&P 500 is probing the January lows (towards 1,160). Some where in and
around these levels as the S&P tests a secondary up trend line and support
we would suggest the market will try to at the very least make a shortterm


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Quote of the Day:

"For every complex problem, there is
a solution that is simple, neat and wrong.”
H.L. Mencken

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