We may be seeing the early stage of this break in the Nasdaq - a very positive development given the tech sector's importance as a lead out in an economic recovery.
How is this of use? The next leg down in the Bullish Percents / Percentage of Stocks above the 50-day MA / Summation Index will provide the basis for a low risk buy. March lows will provide the basis for the stop, so next it is matter of assessing at what point to this one will want to enter a position; do you wait for a 'buy' trigger in the aforementioned indicators or does one look to 'buy' when the market gets within 3/5/8% of March lows?
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website