This is a 25x 3 closing chart on the Nasdaq. Since peaking in the 2,525 box, the index has fallen back and we have an activated downside target of 1,775 in play. It can be seen that since the peak the bears have had success in pushing the market lower. As bulls have come back in, there has been clear resistance at the 2,300 level. On three occasions in recent weeks that level has been reached, only for bears to come back in and push the market lower And on two of those occasions so far, the market has made a lower low before reversing back up. It remains to be seen if this current column of 0's will continue this trend, ie fill the 2,075 box.
To the upside we have an unactivated target of 2,700. For this to become activated, we need to see the current column of 0's reverse (25x3) 75 points and a new up column of X's move through the resistance at 2,300, filling the 2,325 box. It's quite possible but the bulls will need to regroup and punch through this stubborn resistance. Note too this (red) minor bearish resitance line, just skulking above that level.
The long term (blue) bullish support line is still in tact.
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