This past week saw the market retest new lows at the open on 9/11 – followed by a move higher, a pullback, and then continuation higher.
The Nasdaq was particularly weak after last week with FB/TWTR on Capitol Hill with Google’s CEO notably not present during the grilling.
The S&P is seeing resistance in the 2912 ES region – formerly resistance back on Aug 30 / Sept 3 time period. I expect the next day or so to still consolidate between the 2898 ES and 2912 ES region. The last pullback my pullback into 2906 before a continued move higher.
The Nasdaq is still below where it was when FB and NFLX testified on Cpitol Hill. The pullback on hursday into 7520 NQ notably went right where the market was making a break out move to the upside on Thursday 8:30am morning – noted in the green circle.
So effectively the bulk of the breakout move on Friday was entirely retraced on Friday before the market closed for the week. This is noticeably weaker than what we saw on the S&P500 chart above.
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Robinhood has $0 trade commission for stock and will soon have it for cryptos.
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