Support at levels at and below 190 have gobbled bear pressure up to this point. We're delving into mid 2017 price territory, and psychological supports can be meaningful.
I've sketched two possible targets in white where I'll be watching for rejection downward from inside of the rising wedge.
All input is appreciated!
Year was up 10% and i believe will bottom out at half that of 5% around 2800 after the elections.
Sell the 2/3 rally at 2915 and buy 2800 for 15% ytd gains in decombre.
This will also look like a head and shoulders i guess.
Bit far fetched, but many indicators come into one play of forming a top in May. Point by point
1) After edging up on the sale support as before after making a new high, Nasdaq composite gives room for a head and shoulders formation. Top would be in May if this holds true.
2) RSI, Stoch and MACDcan all be traced with following the patterns to top in may should ...