Thursday, April 24, 2008

200-day MAs fast approaching.

Bulls will have to be pleased with the last few days of action. Volume has definitely sided with them and breakout gaps for the Nasdaq and Nasdaq 100 look to be holding.

The next likely stumbling block for the averages looks to be the 200-day MAs. Any weakness should relieve overbought conditions, but not enough to close those key breakout gaps.