Nasdaq challenging support for a third time
Well the Nasdaq wasn't able to break through 16,000 resistance, it's now looking at cutting below 14,900 support. The 200-day MA is nearby at 14,681 and is looking a more likely support test that maintaining current levels. Not surprisingly, there was an acceleration in the relative loss of the Nasdaq to the S&P with technicals net bearish. Volume is a balance between sellers and buyers and the likelihood is that we have trading range in development.