Watch This 'Double Testing' Level

By: Marty Chenard | Tue, Sep 11, 2012
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UPDATE ON: Is the NASDAQ 100 stuck or just at a very important "testing level"?

Below is the updated chart as of the close yesterday ... and the answer to the above question is: "a very important testing level" is still in play.

There are two important testing levels being faced at the same time now. The first is the April 7th. Weekly High of 2795.35 which was briefly taken out, only to have the NASDAQ 100 retest the level and close below it.

The second testing level is a Fibonacci 50% level which stands at 2806.20.

Last week's question remains for technical analyst ... "Will this turn out to be a double top, or a continuation move that goes beyond the double test resistance levels?"

NASDAQ 100 Chart



Marty Chenard

Author: Marty Chenard

Marty Chenard
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