The Nasdaq undercut psychological support of 5000, but not far enough to suggest it has returned as resistance. The false break of 5000 ranks as a 'bull trap'.
The Russell 2000 didn't experience big losses, instead it finished with a second doji near Friday's highs. Action in this index remains positive despite selling in other indices.
You've now read my opinion, next read Douglas' and Jani's.
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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com, and Product Development Manager for ActivateClients.com. You can read what others are saying about Zignals on Investimonials.com.
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