The NASDAQ glory days seem like a distant memory today as the index lost support off
the 20ma before settling just above the 50ma.
Such has been the rally in from the March lows that this is really the first notable correction,
but just how much lower can it go.
We would love to believe that the 50ma would hold
in confluence with channel support but it may be the case that the 100ma & the 0.382 fib gets tested.
Given the velocity of the drop investors must not rule out a test of the Feb Highs @ $9763.
the 20ma before settling just above the 50ma.
Such has been the rally in from the March lows that this is really the first notable correction,
but just how much lower can it go.
We would love to believe that the 50ma would hold
in confluence with channel support but it may be the case that the 100ma & the 0.382 fib gets tested.
Given the velocity of the drop investors must not rule out a test of the Feb Highs @ $9763.