Still waiting for the nanotech Bull

The NanoTech Index is still showing signs of weakness, even after a positive breakout that turned out to be just a false start for the Bulls.

The S&P 500 is on a downswing and it should keep the nanotech industry down while it doesn't get to better support levels.
Some of the bullish stocks I've mentioned in the last updated behaved badly and are just following the index.

On the long term chart we can see both support and resistance lines converging and in the next week we should see some good technical patterns forming up.
The fundamentals just don't work in the short term, and it's better to wait for a green sign from the technical analysis, before buying into an investment even if with good fundamentals.

In these last weeks even the best fundamentally sound companies are going down in the nanotech area, and the Merrill lynch index doesn't seem to lie:



There is some new research information available at nano.gov regarding future energies that looks quite promising. It's a little big PDF but worth the download:
Nanoscience Research for Energy Needs Report

And more news regarding carbon based transistors: Branching Is Key to Carbon Nanotube Transistors