Tuesday, May 16, 2006

Nanotech index update

The recent Selloff in the major indexes affected the small nanotech stocks group.
Merrill Lynch Nanotechnology Index ended it's six consecutive negative sessions and stopped at an important technical support, near the 210 points.
A couple of points below lies the 200 day moving average that should provide additional support for this Bull Market since 2005.

This should be a nice time to search for new long-term and short-term trades if we bounce back into the last bullish trend, although this could represent the start of a correction that could last a couple of weeks/months.