Good Morning Tim. Yes, 1620 should provide support for the NASD and if it does, it will represent a double bottom. This was needed a long time ago. The market was in denial thinking that touching 1620 once represented a bottom. Levels of support or resistance need to be tested at least twice and I prefer three times. We are in a recession. Whether or not we want to admit it, the facts and numbers do not lie.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.