NASDAQ (COMP) also closed above its 50 dma yesterday, a big first as well. It is now hitting against the trendline on what now appears to be a confirmation of the inverted head and shoulder I wrote about last week. Keep an eye on that thick black line. A close above sets up a much higher move in the future, minimum 2230, 38.2% projection from neckline. But we still have to close above 2125 for that to come in play.
This entry was posted
on Wednesday, August 16, 2006 at 7:01 AM.
