Nasdaq

This blog has been warning about an imminent big fall in Nasdaq. Yesterday at the end of the half day Independent's day holiday trading session, Nasdaq closed below 50-day moving average and the long term uptrend channel. This is a significant bearish price action that this blog has been asking traders to watch. A mysterious "Flash Fall" of 2% that on 9 Jun was a canary in a coal mine, the market has sent out an ominous warning of calamities ahead. Nasdaq is likely to open with a huge fall on Wednesday after the US Independent Day. It is surely going to test the 6000 mark which will only provide a temporary support. The next strong support is at 5850 to 5900.

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