NASDAQ closed right near minor resistance just above 2,020. Secondary and more important resistance for this snap back rally would occur near the 2,050 level.
Nasdaq Composite Daily Chart
Source: Technimentals
NASDAQ reversed course right in and around the 2000 level. However given weak momentum and internals we would watch these levels support levels – closely any violation would exaggerate the current corrective activity.
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Quote of the Day:
“Everyone wants to make the same three things: money, a name, and a difference. What creates diversity in the Human race is how we prioritize the three.”
– Roy H. Williams
