NASDAQ Gaps and Possible Short Term Move
Though the S&P 500 and NASDAQ Monthly charts are showing early signs of a potential breakdown, the daily hasn't broken completely. We don't a confirmation from the charts on which way we are going near term, though the late day action makes me lean to a sell the news tomorrow - we will see.
For those who follow gaps, here are the major NASX gaps from Fall 2011 to today (these are worth noting regardless of near term movements). The momentum indicator's are showing possible strength, but with the Summit the next couple days, this could be broken fast, but worth keeping on the radar for a potential trade.
*MACD may do a false double cross. If so, could be going higher. No confirmation yet. Just watching right now.
For those who follow gaps, here are the major NASX gaps from Fall 2011 to today (these are worth noting regardless of near term movements). The momentum indicator's are showing possible strength, but with the Summit the next couple days, this could be broken fast, but worth keeping on the radar for a potential trade.
*MACD may do a false double cross. If so, could be going higher. No confirmation yet. Just watching right now.