
A break of 1,300 in the Nasdaq 100 could see a rapid deterioration.

The last two days of gains weren't enough to reverse the trend breakdown or post a new closing high and today looked like short covering followed by new short positions. AAPL and EBAY earnings are likely to trap a lot of bulls based on their post-earnings euphoria on Stocktwits.com.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.