Nasdaq Breaks Support as Russell 2000 Defends
The Nasdaq broke channel support but managed to finish Friday above its open price in what could also be considered a support test. The measured move to the 200-day MA remains in play for the index, but until there is a loss of 14,900 the possibility of a double bottom is also an option. The candlestick finish on Friday wasn't that bullish, so edging in favor of the measured move lower.