Nasdaq opened gap-up above key level 2585 on Wednesday but failed to rally, then quickly broke below 2585 and 2570, closing near the day low, below key level for Thursday.
Key level for Thursday is 2570.
- Failure to rally above 2570 on Thursday implies it is still in a fast down-trending mode with the next major support at 2420. I am not expecting NQ to decline to that level in one day, unless of course we get a crash.
- Above 2570 implies it is going into a consolidation mode, with 2585 as upside target.
8 Shocking New Forecast for 2012 and Beyond by Martin D Weiss
