All posts and charts are for educational and illustration purposes only
Wednesday, June 28, 2017
On 15 Jun this blog warned of the impending correction of the Nasdaq index. Yesterday it dropped 1.6% to 6146.6, closing right at the trendline support and also the 50-days moving average. The index is at an inflexion point, it has not broke the 50-day MA and the trendline support for the last 7 months. A break below this level could signify a change in its macro uptrend to a start of a downtrend.