Tuesday, February 26, 2008

The Dow And The NASDAQ



Today the Dow Jones Industrials were up 114 points and closed right on its 50 day moving average. Seems like some people are becoming bullish on the Dow but if you look at what the NASDAQ is doing we see a different picture. The NASDAQ isn't even close to its 50 day avg and is making lower highs. Obviously technology stocks are weaker than the Dow 30 stocks. In my opinion, in order for the stock market to become bullish the NASDAQ will have to begin to show signs of strength and I don't see that happening at the moment.

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