Sellers Apply Pressure; Shorting The NDX
Declan Fallon | Jun 24, 2015 11:56PM ET
Again yesterday, too-and-fro the markets continue their dance. Despite the selling, there was no handing of control over to bears. The S&P ducked below 2120, but key resistance is at 2,134. Technicals kept their net bullish technical strength
NASDAQ losses didn't drop to challenge 5,096 yesterday, but today is a chance to deliver on this. Buyers can be patient enough to wait for this before committing.
The Russell 2000 is another index working on a retest of the breakout. Support at 1,278 is open for a retest later today.
The NASDAQ 100 was a little different. It hadn't cleared resistance and yesterday's selling leaves it more open to an attack by shorts as resistance is confirmed at 4,550.
For today, bulls can look for a retest of breakout support in the Russell 2000 and NASDAQ. Shorts can look to the NASDAQ 100 for their opportunity.
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