Hey, we actually closed green!! Tomorrow’s Friday and last trading day of the month. Let’s see how we hold up tomorrow. That was a pretty good test of the support levels. Certainly nice to see INTC bounce back and close green. If we hold on, or add to the gains, tomorrow, we might have some near-term bullishness coming next week. But, we’re not completely in the comfort zone yet. (oh, by the way, do you like the new color scheme for the charts?)
Nasdaq tested the 20-day MA, and support level, around 2400. Bounced back nicely. We can get a closer prespective from the intraday, hourly, chart:We see that Nasdaq tested 2400 for a little while. The indicators bottomed out and the buyers came in.
But, to really have a more bullish trend, we’ll need to see it above 2460, catching the upper BB on the daily chart, and have the 30-day MA turned up! So, let’s be cautious and thankful that we bounced back from 2400 today, and watch things vigilently for the next couple of days!
FMCN had a fantastic day today. Up 5.74%! It is splitting on 4/11 and showing some pretty bullish signals! It has caught the upper BB. If it breaks the resistance @ 79.1, it might re-test the 52-wk high of 88.5. MACD, MFI, RSI and the volume are all very good!
PTR also made some solid gains today.
Surprisingly, NDE had a little breakout today!
They claimed that, for them, the “subprime contagion” is overblown. The stock rised on increasing volume. We might see it get squeezed all the way to about 37.5, or so. But, given the situation in the housing/lending sector, this is hard to bite into.