The NASDAQ OMX Group (NDAQ) has consolidated recently for the last few months. For September it looks like it wants to start the month pushing for a break out to the upside. The SCTR shows the company holding in the top quartile. Relative Strength is still holding but closer to four month lows.
Like most parts of the market, the volume has been quieter lately, so I would suggest that just fits in with the overall view. I think a breakout through $96 is an attractive entry and a stop at $92 should give it room to wiggle.
Greg Schnell, CMT, MFTA