Sunday, May 4, 2014
Nasdaq correction in progress. Or Bubble popping? Stay Tuned
Interesting things happening here that will lead to the next major move. Three dilemmas I'm watching; A rising channel that is broken and we are back testing; a head and shoulders top that could be to obvious to be the right pattern, a fake break out from the channel and the next move takes us straight vertical to the top side of the channel shown above. With the moving averages tightening and converging around this 88 level and the 50 day moving average rolling over like a dome as well; there is a bit of coil here that will set up a nice move.
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