EconomicsGlobal

$IXIC - Nasdaq Loosing Steam

TVC:IXIC   NASDAQ Composite Index
On a technical basis, it seems like the Nasdaq may bee running into a little bit of a headwind. As can be seen in the weekly chart, it appears a "Shooting Star" pattern has formed, coupled with negative divergence in the Smart Money Index. Furthermore, if one looks at the Nasdaq's monthly chart, one can see that even an "Evening Star Doji" is forming as well.

We believe that it would serve investors best to take some money off the table if they have holdings in the $IXIC or in the tech space as a whole.
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