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Chart Of The Day: NASDAQ Pulls The Market Up...And Down

Published 07/26/2016, 05:59 AM
Updated 07/09/2023, 06:31 AM

Markets don't generally go through a major resistance zone on the first try. Notice that it took the S&P 500 five tries before ti could break through its 2015 all-time high.

I think we can expect the same thing when the NASDAQ tests its all-time highs. I expect it will pull back, perhaps as far as the 500 level, taking the rest of the markets down with it.

SPX:COMPQ Daily

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