FinancialAdvisor's College Class (FACC)

[FinancialAdvisor]

*USPIX - Since it's somewhat the inverse of the Nasdaq Composite, watch the 10 day SMA on the Composite, it managed to hold today, also we can see that today's down volume on the Nasdaq Composite wasn't greater than Wednesday or Thursday's up-sessions. Two things would need to happen Monday for the bears to take hold, with the big #1 being the volume needs to increase and exceed Wednesday's up-session, and #2 would be a close below the 10 day SMA, both would likely go hand in hand.

Should the move to the downside really get going, I feel that a test of the 50 day SMA in both the USPIX & Nasdaq Composite would be inevitable. 2041 looks like the next support level under the 10 day SMA, below that would be the psychological 2000 area, and don't forget the gap between 2004.15-2007.20...

Also of note, in the Nasdaq Composite chart, the RSI(14) today has broken below the level it was at when it tested 2050 support, in other words, if the RSI(14) is to be used as a leading technical indicator, it has basically already told us that a test of 2041 is coming...