But first... let's take a look at what Nasdaq wants to do here, what it is trying to test... and that is the all time volume high on the monthly from January 2001 ... 2892.36
And now let's take a look at the daily activity from 1999 on the way up the first time in this price area...
We are obviously from the above 2 charts approaching parabola-land. You may or may not have seen my posts from May of 2006 regarding stocks like MRVL, BRCM, AMD and others regarding no real base built in a price range... I call these "slippery" zones. I was accurately able to predict that all of them would fall through to new lows, if you recall. So, my thinking is that instead of months on a wall of worry basis, we're going to be looking at weeks...
Now my final thought for tonight is we could also have a reaction to the low volume ramp such as the one we had on 1/3/05(chart below). I believe when we top, this will be the type of reaction we'll see. Now, that may or may not happen tomorrow, but I've had this date 7/13/07 on my calendar for some time...
Edited by SemiBizz, 13 July 2007 - 12:57 AM.
