For the third session in a row the Nasdaq tested the January high of 2,153 and failed. Today’s spinning top marks the third bearish candle in a row for the Nasdaq. The index is showing great resilience though. It looked like it was all set for a down day this morning but buyers stepped in to push it back into positive territory. Here’s an intraday chart of the Nasdaq (30-minute bars) which illustrates the see-sawing over 2153:
Looks like there might be a head & shoulders pattern forming on that chart. Hmm…
2153 seems to be the sticky point today. Good call