The NASDAQ Comp. has made several trips up to the 2300 level in
recent months, only to be turned back by selling pressure. Well, it's
there again, with a cliffhanger 9/16 finish at 2303. Chart.
There is confirmation of the NASDAQ advance in the short run, but the
market is approaching a short term overbought. Logic says the market
should absorb more of the overhead resistance without great damage
before advancing to higher ground up and through 2300. But, logic
and stock price movements do not always happily coalesce.
Place your bets!
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