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NASDAQ in a squeeze

Author: Varun Kanotra (info)
Website: http://www.targetsix.com/
Posted: December 14th, 2006 at 9:17 am EST
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Quick update on the market as I prepare for another day at my J.O.B.

The NASDAQ continues to stay within a 60 pt squeeze forming a penant. It is definitely running out of room to move and should be breaking out (in either direction) very soon. Keep your eyes on that chart, and hand on the mouse. The recent trend has been strong but we could easily invalidate that and break-out lower.

Trade carefully and watch the CPI numbers this week….

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