Nasdaq losses didn't drop to challenge 5,096, but tomorrow is a chance to deliver on this. Buyers can be patient enough to wait for this before committing.
The Russell 2000 is another index working on a retest of the breakout. Support at 1,278 is open for a retest tomorrow.
The Nasdaq 100 was a little different. It hadn't cleared resistance and today's selling leaves it more open to an attack by shorts as resistance is confirmed at 4,550.
For tomorrow, bulls can look for a retest of breakout support in the Russell 2000 and Nasdaq. Shorts can look to the Nasdaq 100 for their opportunity.
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. I do a weekly broadcast on Friday's at 13:30 GMT for Tradercast, covering indices, FX and gold, silver and oil - all are welcome! You can read what others are saying about Zignals on Investimonials.com.
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