All posts and charts are for educational and illustration purposes only
Tuesday, July 4, 2017
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.