NASDAQ

Thursday saw shares fall once again led by banks and commodity stocks, added to this was concern over Greece's economic health. The US durable goods data also was weaker than expected, disappointing investor confidence in equities.

The shape of this economic recovery will not be in a “V”, as many pundits have promulgated, but instead may be the inversion of that letter…which will unfortunately look much more like a tepee. The upcoming downfall will surprise most investors who have been tricked into believing that a government can print and spend their way into prosperity.

Once again The Wizards will attempt to debug the market cycle and create an upward only future for the masses. Try not to be abused again--- the markets aren't broken, just the market shakers. Your portfolio should be up in market value--- and not by just a little for the "dismal decade".

The U.S. equity markets are experiencing high levels of volatility at the mid-session. Oversold conditions and increased appetite for risk helped boost equity prices overnight, but U.S. investors failed to chase this market higher, leading to an early morning sell-off.

Investors continued to dump higher risk assets today triggering weekly closing price reversal tops in the December E-mini S&P 500 and the December E-mini NASDAQ. A follow-through break to the downside in both of these markets next week will confirm the reversal top and lead to the start of a 2 to 3 week break.

For most chartists, users of technical analysis, the wedge is a pretty common and favorite pattern for most. Mainly because the flight of a stock price conforms nicely to how they move. Combine that with easy to notice price targets and stop points, you can start to understand why people love the pattern so much [...]

December S&P and NASDAQ stock index futures finished lower for the month while the December Dow eked out a small gain. The closing price reversal tops in the S&P and NASDAQ indicate that the selling is greater than the buying at current levels and set up the possibility for a 2 to 3 month decline.

A late day reversal on Wall Street has earned the NASDAQ its third distribution day within this period. In addition, most of the indices printed key bar reversals for the session, an extremely bearish 1-day reversal pattern. Take a look at volume on the SPY during Wednesday's session.

The tech weighted December E-mini NASDAQ market bucked the overall bearish tone of the day to post a moderate gain. The NASDAQ was driven higher by extremely bullish earnings from Apple, Inc. The heavily weighted Apple, Inc. stock helped drive up the NASDAQ Index while the December E-mini S&P and December E-mini Dow rallied off their lows but still finished lower.

The equity markets closed lower on Friday, with the NASDAQ picking up a distribution day. The "Tech Index" also filled the price gap from the session on 10-14-09.

Market Breadth has moved from the depths of despair to rarified air. Where next for the Nasdaq?

A worse than expected U.S. Durable Goods Report triggered a sell-off in the equity markets before the opening, putting pressure on stocks from which the indices haven’t recovered. Downside momentum in the December E-mini S&P 500 market could take the contract to 1031.00 today. The NASDAQ is feeling pressure from worse than expected earnings from RIMM.

U.S. Equity markets are expected to open slightly better following yesterday’s hard sell-off. Bargain hunters are boosting equity markets overnight, but the tone has definitely turned a little more bearish since earlier this week. The NASDAQ may lead the markets lower because of bad earnings news from RIMM.

The December Dow and December S&P 500 are trading weaker at the midsession as trader shy away from risky assets ahead of this week’s Fed FOMC and G-20 meetings. The December NASDAQ is trading higher on merger and acquisition news. Volume is light and the markets have been rangebound most of the morning.

The S&P 500 has seen remarkable recovery from the lows that were seen earlier this year. However, all of that may come to an end as we fast approach a strategic level for this market. There are two major technical indicators that are colliding at a crucial point and time. Unless you’re aware of these indicators, it could be very expensive.