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Nasdaq Still Holding Under 6371 Fib Resistance

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#1 SemiBizz

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Posted 05 August 2017 - 11:03 AM

Nasdaq has failed to close over 6371 since 7/31 - This represents a 3.618X Fibonacci Extension of the first leg up, in this case acting as SOLID RESISTANCE...

 

If it fails now, we're going to see 6193 - Fibonacci Support and gap fill confluence...

 

Always nice to know what the market has to do to prove itself, one way or the other...

 

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Edited by SemiBizz, 05 August 2017 - 11:08 AM.

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#2 da_cheif

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Posted 05 August 2017 - 12:35 PM

oh really?



#3 alexnewbee

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Posted 05 August 2017 - 02:27 PM

Yep, Nasdaq is quite heavy. And that Hindenburg...
"we do G.d's work" Lloyd Blankfein

#4 SemiBizz

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Posted 07 August 2017 - 08:47 AM

One more try to break 6371 in progress...


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#5 da_cheif

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Posted 07 August 2017 - 08:53 AM

ur not the only one with a quote machine or are you



#6 redfoliage2

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Posted 07 August 2017 - 08:58 AM

I also got an ST down side target at 6200.  Selling into bounces should be safer than buying dips for the next few weeks. 


Edited by redfoliage2, 07 August 2017 - 09:06 AM.


#7 da_cheif

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Posted 07 August 2017 - 09:00 AM

I also got an ST down side target at 6200.

really?



#8 SemiBizz

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Posted 07 August 2017 - 09:33 AM

6371 has been pretty tough, but if they keep banging up against it, it's likely to give way, at least for a test...


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#9 diogenes227

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Posted 07 August 2017 - 10:05 AM

Battle of the algos.


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#10 SemiBizz

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Posted 07 August 2017 - 10:13 AM

OK, so that's how they test these things... Jumps the Creek...

 

Should see consolidation now to 6371 again shortly.


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