Nasdaq appears to still be under pressure in the short term. My wave count suggests Santa won't be coming to town this year.
Trade active:
Nasdaq closed below the slow MA opening the doors for a gap down island reversal tomorrow.
Trade active:
The gap down did infact occur only to be closed the following day. Yesterday the market gapped down again which it struggled to close, in fact is still shy 2 points of closing the gap, instead the market proceeded to do new lows before rebounding and closing where it started.
