(Click On Chart To Enlarge)
From Sunday, June 22:
"UPDATE: The NASDAQ was looking good until Friday. Mid-week, it reestablished support at the Key 2429...2430 bottom of the Rectangle (pattern in black), but on Friday it broke decisively below it. That puts 2310 back IN PLAY."
The NASDAQ rallied out of the gate on Monday, but failed almost immediately at 2419, below 2429-2430 resistance. It sold off to a low on Tuesday, rallied to 2421 for a Double Top (2419-2421) after the Fed announcement on Wednesday, and has tanked 100 points from there to close the day out at 2321, just 11 point away from the 2310 target that is IN PLAY.
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