Profit Taking Strikes Indices
![Image](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhMZQHkdF8NicDJUcnMnRHmvjeRZtxKqHVGMy13ZAhYBavR4Zni0XSN0MRaRStyos3FnHhGMw41PjW1ISzpkE1c0vWiMIT-R_p0zNQiiyHvESBHxNMG5pI6pEp2Gc45NWSHmRoIfleUsZb-LpqJbpylqURkRQDoJd3wFRZPMGbcSS7w8NH6h-Js/s1600/comp_jan24.png)
Early buying momentum from pre-market through to morning trading had the potential to stamp bulls authority on markets, but by the close we are again looking at bearish 'black' candlesticks for the Nasdaq and S&P, with a bearish 'cloud cover' for the Russell 2000 ($IWM). For the Nasdaq, we are perhaps looking at an opportunity to test breakout support of 15,150 although this process will likely take a 2-3 days of selling to achieve. Tomorrow is a logical place for this selling to start. Technical strength is bullish with little in the way of bearish divergences to indicate pending weakness, so it will be down to pre-market to determine if there will be a gap down.