On The Fence?
This is a frustrating market for traders, but I have to believe that soon we
will see a resolution as to a short-term direction of the Nasdaq Composite
(
COMPX |
Quote |
Chart |
News |
PowerRating).
12:24:38
Look Out Below????
We are aware that most people don’t want to think about it, but the Nasdaq
Composite (COMPX)
could possibly be headed for a test of the April low at 1619 after breaking
below a mini triple bottom. The COMPX is now at 1927.28, down 36.04.
The index has since rallied back above the support level/triple
bottom and could make another short-term rally. A shake-and-bake move? Perhaps,
but patience will be the key as traders sit and wait for the market to tip its
hand.
Have a great weekend,
P.S. I will be on vacation from August 12 through 20 and will
return on Tuesday, August 21. Happy trading and please behave for Marc, Brice
and Kamada. And always remember to have a talk with your stylist before
he or she cuts your hair.