Looks like a constructive day as I post on my Blackberry on my way to a baseball game. More tonight…
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Local team lost. Oh, well. I believe they have the worst record in minor league baseball.
The Nasdaq 100 (NDX) continues to lead and pulled back to the 1:1 ascending Gann angle which is expected. It is possible that the options houses will move price where ever is the most profitable in the next few days. I see short interest is down for the first month in many. Although, hedge funds are more short than the March and July lows. The market is not yet long term overbought and today may have relieved a little short term pressure on the overbought condition.
Chart courtesy of Stockcharts.com
Post Modified: August 12th, 2008 at 10:53 pm
Tags: Gann Angle Fan · Nasdaq Charts · Square of Range · VolumeNo Comments
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