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Christopher Lewis
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nasdaq

The NASDAQ as you can see initially broke higher but then turned back around to show resistance of the 4300 level. Because of that, the market then made a move towards the 4200 level, and with that it appears that the sellers are most certainly in control. However, if we break down below the 4200 level we think that the market continues to go much lower, perhaps heading to the 4000 handle. The 4200 level though would of course be a nice area to see a supportive candle, but until we get it we are not interested in buying.

 

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