The downside bias on the Nasdaq is greater and clearer a shown in the other indexes. Remember, that tech stocks led the markets up in a record run. Now, it appears that the reverse is also true, leading the downward pressure with commitment.
Technically, the weekly candlestick pattern show a bearish engulfing, followed by a rather filled down candle, forming the three outside down pattern, and suggests more downside to follow. The MACD had crossed down supporting this view.
Target of 9600 by end October with a check at about 10400.
Technically, the weekly candlestick pattern show a bearish engulfing, followed by a rather filled down candle, forming the three outside down pattern, and suggests more downside to follow. The MACD had crossed down supporting this view.
Target of 9600 by end October with a check at about 10400.
