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Dr_Roboto

NASDAQ key support levels - First chance is this morning

US 100 (CURRENCYCOM:US100)  
Dr_Roboto Updated   
CURRENCYCOM:US100   US 100
Trend Analysis Chart Patterns Wave Analysis NASDAQ 100 CFD QQQ us100 SPX (S&P 500 Index) SPDR S&P 500 ETF (SPY) DJI
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trendanalysis chartpattern waveanalysis ndx qqq us100 spx spy dji
Here are the key support levels that I see for the NASDAQ. You can see that this morning we are testing both the support of the down channel and the 0.7 fib retracement. Hope would be that we see a rally today. If not and this causes panic, we could drop down to the lower fib levels of 1, 1.2, etc. You can see how well they line up with the price action from 2020, so keep watching these levels.

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Comment:
Ouch, that was a tough day for the NASDAQ. Pretty much disregarded any support lines that I had. Lets hope that we get a rebound tomorrow, else this selloff is going to start to snowball.
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Comment:
with 20 and 200 day averages
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