We just keep on hitting key markers. Today, probably one of the most important and I suspect we get a bounce out of it. The Nasdaq (COMP)closed right at trendline support from October 2002 (2037.50). That is a must hold tomorrow at the close or we are in real trouble. I think a bounce here would be temporary as a bearish wedge is clearly building on the weekly chart. Furthermore the 10 weekly ema has crossed the 20 weekly ma, and that not healthy to say the least. In any case, keep an eye on COMP 2038 at the close tomorrow.
This entry was posted
on Wednesday, October 12, 2005 at 5:13 PM.
