I have made it back to Pennsylvania from Texas but now am heading to the mountains for the weekend. I will post anything I find this weekend on Monday. Subscribers should not expect to see any updates before Monday.
The Nasdaq Composite bounced for the past two days but volume was very low. I doubt price will make a new high without any significant buyers.
But what if price does surprise me and make a new high? I see the 1×1 descending near 2250 as very significant resistance. I doubt price will be able to break through this line unless it attacks that level from a significantly oversold posture. Price is neutral at best on the overbought/oversold metric.
The monthly chart also shows the 1×1 of the 1982-2000 range near 2250. I have serious doubts that price will make it through this level should the daily chart make a new high.
Charts courtesy of Stockcharts.com
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