Tuesday, May 24, 2011

Nasdaq to Continue Lower? 5/24 9:10AM CST

2320 is very important. On the daily, it is the intersection of the 50 (blue) and 100 (yellow) day VWAPs, as well as the most recent bearish and bullish channels. As long as we don't put in new highs for the day (currently 2324.25 on the JUN future), I am quite bearish the Nasdaq, with a target near 2245

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