Nasdaq Breaks 2470 Resistance
Posted on Fri 12th Jan, 2007 12:37:15 AM
The chart says it all pretty clearly, today’s volume represented a heavy accumulation day for the NASDAQ Composite, and the index closed above the major 2470 resistance line. This is a big day for the market overall as the S & P 500 is now putting together a nice bull flag pattern as well. How this will play out over the next couple months as earnings season steps into full swing is anyones guess, but seems the bulls have the big advantage. If you want to play the NASDAQ, one way to do is through QQQQ, which tracks the Nasdaq 100.
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