Sellers Pressure, Nasdaq 100 Shorting Opportunity

Again, too-and-fro the markets continue their dance. Despite the selling, there was no handing of control over to bears. The S&P ducked below 2120, but key resistance is at 2,134. Technicals kept their net bullish technical strength

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.

Share on StockTwits


Accepting KIVA gift certificates to help support the work on this blog. All certificates gifted are converted into loans for those who need the help more.

Follow Me on Twitter

Dr. Declan Fallon is the Senior Market Technician and Community Director for, and Product Development Manager for 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


Popular posts from this blog

Round 2 for the bearish "black" candlestick in S&P and Nasdaq

Big bearish engulfing patterns as positive start negated

Being "Right" but still losing...


Show more