Resistance Holds Again

For a good part of the day it looked like the market was going to finally break above the range of the last couple of weeks,but then the sellers stepped in. The Nasdaq fell back below that resistance at 2,005 to close just under the 2,000 level. If it wasn’t for the 200-day moving average being just a few points lower I’d say that the Nasdaq is a short below today’s low. For now though, I still see it as a short on a close below the 200 DMA and a long on a close above 2,005. The waiting continues…