Monday, March 7, 2011

Huge Bounce off 50 Day Moving Average in NASDAQ

Buyers came out in force once the NASDAQ threatened the 50 day moving average.  We've seen a 1% move in about 2.5 hours.  No real headway for bears or bulls on days like this; just a lot of churn - start up, sharp selloff, rally strong lately.  Only good for daytraders.

As always the close is more important than intraday so its a 3rd successful hold of serve on the NASDAQ for the past 2 weeks.

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