Wednesday, February 8, 2012

Nasdaq ~ EOD Update ~ 8 February 2012

For a change I post a Nasdaq chart today:

The SPX is still a few points below last year's high meanwhile the Nasdaq hit a level we haven't seen since late 2000! I mentioned that I expect a correction sometime in February followed by another rally. So, what could happen for the Nasdaq, is that we'll retest the breakout area between 2800-900 and then move higher.