The Nasdaq is at risk of posting a new lower high, which will open the possibility for a new downward channel. On-Balance-Volume finished with a 'sell' trigger
For next week, look for further downside. Bulls can look to the upside gap support from Wednesday to lean on. A bearish head-and-shoulder will be negated on a move above December's highs.
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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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