At 2112, the Nasdaq Composite is just 12 points away from what I call pivotal support that keep the 3 year bull bounce alive... if it fails, the secular bear may be confirmed as resuming... signs are all around of this, I've often pointed at Wal-Mart and Fannie Mae's red-flags to the markets, now we also have the the potential that the homebuilder & related stocks are developing head & shoulders tops...
Just keep in mind the 2,100 area could potentially be considered pivotal support, I would be surprised to see it not get defended...
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