April 21, 2008

Little excitement today in the markets as we finished in split fashion. Tomorrow should see much more volatility as a number of companies report earnings coupled with a retail and housing report. The indices are looking a bit top-heavy and may be due for a pull back of sorts. We’ll see what tomorrow brings; but heading into tomorrow there is a negative feeling after Texas Instruments gave a somewhat dour outlook for the next quarter. From a technical standpoint, the volume was extremely weak and while we managed to hold Friday’s gains we believe that investors are still somewhat tentative about the current market conditions and could be inclined to take some profits in the near-term.

Let’s look at the NASDAQ and S&P charts…