NASDAQ Technical Picture - Bearish Doji Evening Star on Higher Volume

By: Wall Street Warrior Wednesday, July 11, 2007 10:48 AM

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As mentioned last night, a lower open and close would generate a bearish doji evening star and that's exactly what happened after some earnings weakness and a warning from Sears (NASDAQ:SHLD). The day's broad based selling occurred on higher volume which constitutes a distribution day. Despite the WR red bar, the NASDAQ closed above the breakout point. We'll see if that sliver of bullish gap support will hold tomorrow.

Companies moving in after hours trading in reaction to earnings: Trading Up: INNO +14.4%; CCF +6.4%; VOXX +2.8%; VSGN +2.8; ZZ +1.2%...

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