Thursday, January 28, 2010

Nasdaq Breaks Trendline Support: Watch Out Below

A great video - must see and scary- just released by INO on the Nasdaq composite (COMP):

You see the trendline touching three points, but then do you see the price breaking below the trendline? Almost an 11-months trend broken. The longer the trend was when broken, the more important it is. Potential to go down all the way to 1,671, or 1,796 (currently it is 2,179!).

We are in form a good pullback, it does not look good at all. The monthly signal is about to turn red.

Watch video.

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1 comment:

Deming said...

Thought I saw a chart a week ago or so of the $DJI breaking its support.

S&P next?

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