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Solid Session for Blue Chips, Not So for NDX

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The stock market indices suffered some sharp declines in the morning. After gapping up, they come down immediately, bounced late morning, but did it with .382 Fibonacci retracement. They couldn't do more than that. The S&P 500 had a 50% retracement, and then they pulled back down in a 3-wave corrective pullback, making nominal new lows on the Nasdaq 100, but far from it on the S&P 500. The S&P 500 failed to confirm those new lows that triggered a late rally, which we indicated we

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