[ Mistake ]
I just noticed that my Nasdaq charts were not accurate: through some corrupted files, I recently (last week) tossed out my old SuperCharts program, re-installed it, and went through the whole painful process of rebuilding everything...except the download link that updated my Index Charts! (As you can tell, I don't follow the indexes that closely, though I'm setting I've set it up now so I can follow the broad markets with just a glance.)
Because of this Big Blunder, my previous Nasdaq observations probably would have caused some of you to scratch your head. Well, you were probably right, but just too scared to point out that I was mildly hallucinating :o)
For the Nasdaq Composite Index, I do not see a Bull Trap (the failure hasn't fully carried through as specified yet), but I still do see a near term risk of about 40 points to the downside, to about the mid-1750's.
However, the Nasdaq 100 Index is a different story. That has experienced a Failed Signal (i.e. Bull Trap), and I will expect that some better support will materialize about 30 points below today's close, to about the mid-1150's.
Rainier |
