Nasdaq Mapping the Territory

Context:

price is came to an halt in its upward progress indicated by the shortening of the upward
thrust , ie. it failed to test the overbought levels of the channel , and found resistance at
4550 , on the other hand price also found support at 4375 , which contains the price in a range
the last selloff was sharp and any further weakness at or near the "mean" of the range at 4460
should be considered weak , if price then breaks support and teh channel lows , we can speak of the beginning
of a bear market. till then its safe to lookout for trades at the extremes.


Signs of strength:
uptrend
support holds

Signs Of weakness:
shortening of the upward thrust
resistance holds

Support:
4375
4280
4200

Resistance:
4550

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