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 Chartnasdaq_support.bmp
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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Category: Finance

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