although we are enjoying the "mini rally" , we should be careful and fully aware that we still on bears territory. on the Nasdaq 100 attached we can see a crucial point that can be a confirmed abcd pattern. (see the fibo levels ) also we can see that the index is testing the 200 MA on daily CHARTS. closing below this point can be a significant sign that the bears going back to business. on the bull side we can see the rsi indicating more bullish movement ahead so closing above the 200MA on daily chart will scare some bears away. stay tuned!