Courtesy of Declan.
Again, too-and-fro the markets continue their dance. Despite the selling, there was no handing of control over to bears. The S&P ducked below 2120, but key resistance is at 2,134. Technicals kept their net bullish technical strength
Nasdaq losses didn’t drop to challenge 5,096, but tomorrow is a chance to deliver on this. Buyers can be patient enough to wait for this before committing.
The Russell 2000 is another index working on a retest of the breakout. Support at 1,278 is open for a retest tomorrow.
The Nasdaq 100 was a little different. It hadn’t cleared resistance and today’s selling leaves it more open to an attack by shorts as resistance is confirmed at 4,550.
For tomorrow, bulls can look for a retest of breakout support in the Russell 2000 and Nasdaq. Shorts can look to the Nasdaq 100 for their opportunity.
