The 5 day moving average is now resistance for the Nasdaq and NDX/QQQQ, which normally indicates a short term trend change. The next big move should be down.
Another important indicator is the VIX, closing for the second day in a row above the 10 day moving average (chart).
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on Thursday, May 08, 2008 at 5/08/2008 06:23:00 PM.
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