Wednesday, November 14, 2007

Nice start and bad finish

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So what did we have today? - Nice start and bad finish. NASDAQ 100 did lead the market down again.

Even if the market will move towards the recent lows, I’m still under the impression that this is the end of the mid-term down-trend. Advance decline and volume indicators show that the market is heavily overbought and we may expect the strong move up.

On the other hand we should remember that while all the indexes moved into the down-trend (in October) the NASDAQ 100 was moving flat at the top. Now we see that the NASDAQ 100 is trying to get what it missed moving against the whole market and pushing it lower.

The day after tomorrow we will have options expiration – another factor that may affect the stock market over the next two sessions.

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