Over the last few days The Dow and S&P 500 did hold near Feb lows while the Nasdaq Comp, which set a new 52-wk close low, held on an intraday basis at minor congest and the 2004/2006 trendline (2240/2235). Technically can make a case for further upticks short term in the wake of the three day slide (Dow and Nasdaq Comp through Monday, S&P 500 was down 3 in a row Friday) back near supports based on price patterns and intraday indicators. If we do see some strength it could provide an important indication of whether we will remain in a multi-week range or if it is a temporary reprieve before the Jan lows are challenged.
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