NASDAQ Technical Picture - Testing Resistance

By: Wall Street Warrior Wednesday, May 14, 2008 1:24 AM

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Vote for next session

The next market session will close:

Disappointing guidance from WMT and estimate cuts for key financials kept the bulls on the sidelines for most of the session. This is more obvious on the S&P which is far from testing recent highs.

Last Wednesday the markets sold off shortly after crude inventories at 10:30, so I'll be watching how the futures react to that key data. Also watch for core CPI in the pre-market.

The LEH chart looks poised to break out any day now.

Companies trading higher in after hours in reaction to earnings: ICXT +21.4%; CALL +14.8%; CRME +8.3%; HMIN +6.8%; CVLT +6.0%; BUF +5.6%; PFSW +5.5%; JOBS +5.3%; FLML +5.1%; GIVN +3.0%; DRL +2.5%; PLAB +2.3%; AMAT +1.7%...

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