NASDAQ - Break of rising wedge and support is now resistance

Nasdaq's slide continues and it looks like it is now out of its rising wedge pattern. You can see where it retested the support line but could not recover. We then saw 2 days in a row of lower prices. My guess is that we may see a small rally tomorrow to test the next resistance level and if not that more selling down to the strong support around the 12,300 level.

Kommentera:

Right down to my question mark today. I was hoping for a test of the blue trendline, but after what looked like an up start to the day it quickly reversed. Note that the 10Y T had another big day.