Is the NASDAQ 100 Stuck or Just at a Very Important 'Testing Level'?

By: Marty Chenard | Tue, Sep 4, 2012
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The answer is ... "a very important testing level" as you will see in the chart below.

There are two important testing levels being faced at the same time now. The first is the April 7th. Weekly High of 2795.35 needs to be taken out and then second, the Fibonacci 50% level of 2806.20 needs to be taken out.

The question for analyst is: Will this turn out to be a double top, or a continuation move that goes beyond the double test resistance levels?

NASDAQ 100

 


 

Marty Chenard

Author: Marty Chenard

Marty Chenard
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Marty Chenard is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools and stock market models. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.

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