The only chance for the bears here is the green resistance to hold which is around 3467 today, of course rising every day until it is hit. Above that, is unchartered territory and I can't see any clear resistances. Hope it helps.
Tuesday 14 May 2013
Nasdaq composite flying above and beyond
The last push on Nasdaq Composite has gone above and beyond my expectations so far. What surprises me is the weekly chart below. The red support was broken in October 2012 and tested 4 times during this push since November. I thought it is time to say goodbye to that resistance, turn down and never hit it again. But no, it kept its pace and now broken that resistance up.
The only chance for the bears here is the green resistance to hold which is around 3467 today, of course rising every day until it is hit. Above that, is unchartered territory and I can't see any clear resistances. Hope it helps.
The only chance for the bears here is the green resistance to hold which is around 3467 today, of course rising every day until it is hit. Above that, is unchartered territory and I can't see any clear resistances. Hope it helps.
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