Tuesday, August 20, 2013

The Nasdaq 100 pattern…from one bubble to another bubble...

Previously, I posted the pattern on the NQ below…the wedge overthrew which should not be a surprise for a BURNanke bubble blow…but it has since failed at the breakout and fallen to below previous cycle resistance which should have been support. It now can not seem to get out of its way to get over those levels…NQ has not yet made a lower low so, technically, its possible that the rebound is in progress…however, looking at the candles does not inspire confidence for me in that view…then there is AAPL which did not make a pretty reversal today…I posted a lot of details which may be of consequence to AAPL’s next move.

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