Monday, 21 March 2016

3pm update - tech grinding upward

Many tech stocks continue to break new cycle highs, with the Nasdaq comp' +15pts @ 4811. There is extremely important resistance at the 4900 threshold. Any sustained action above the 5K threshold would effectively trash the broader bearish outlook.

Nasdaq comp', daily


Certainly, that gap zone, with the 4900 threshold will be tough to break and hold above.

We'll know.. soon enough.

notable weakness... TVIX, daily

Ugly.. breaking into the $4s.. the lowest level...ever.

back at the close.