Some interesting comments about the daily close on the NASDAQ composite from JBartelloni (bartscharts.com).
(An excellent resource for technical analysis & some yarns from the authors previous life as a pilot on a aircraft carrier.)
The decline on the daily from the lower high so far looks impulsive (very few overlaps between the bars).
Possible support from the 50% retracement level of the advance from the Oct 23 low which is close to the 200ma ?
XJO - Bear Posts only (Factors which might cause the markets to fall), page-15523
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7,959.3 |
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| Open | High | Low |
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