NASDAQ: Watch 1387.12 That's the 61.8% re-tracement level of last weeks move (which was over 148 points! for a short week!).
If it breaks down through that re-tracemnt level, then the NASDAQ is going to new a new low.
And, I belive this is the scenario that will un-fold.
I've got to believe that ater the move last week, getting J6P all jazzed up, and todays actions depressing the same people, hedge fund will be getting swamped again for redemption request.
And, I think more J6P's will be move retirement money to money market.
JMHO,
dieselfuel
