Nasdaq Composite Weekly Chart
September 22nd, 2009
I’m having a lot of difficulty finding any new long positions to initiate and looking at the NASDAQ Composite weekly chart it is easy to see why. The area around 2150 is clearly an area of importance that we need to watch closely. Former areas of support tend to act as resistance. This doesn’t mean that the market can’t continue. It is likely we consolidate either over time or through price. I’ve been a net call seller over the last few days in anticipation of some consolidation or a pullback.
Nasdaq Weekly
Related Posts
Categories: Commentary