(Click On Chart To Enlarge)
From pre-market this morning:
"The close Friday was about 3 points above the validated up trendline off the St. Paddy's Day low. The data point for the trendline for today on the chart should read June 9, not June 7. It comes in at 2476.94. If we close below that, we'll have Negative #2."
After breaking down to 2451 this morning, the NASDAQ rallied back to retest broken support and got to 2476.88, just 0.06 points below the broken trendline, then it tanked. That sure doesn't look like a "random walk," does it? ;)
The NASDAQ also has taken out 2460 support, and is challenging 2429-2430 horizontal support. The low thus far today is 2435.
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