NASDAQ Composite is Getting Very Close to its Double Top Resistance Test Level

By: Marty Chenard | Mon, Mar 23, 2015
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FYI UPDATE ... Don't forget to keep an eye on this Double Top Test ...

As an index, it is often ignored or discounted relative to the condition of the aggregate stock market conditions.

But still, based on its chart, we shouldn't ignore it. What we are talking about is the monthly NASDAQ Composite as seen in the posted chart below.

If you look at the chart, you will see that the NASDAQ Composite is getting very close to its double top resistance test level of 5132.52 which was established in March of 2000. Last Friday, it was 2.11% away from its old top.

Monthly NASDAQ Index

 


 

Marty Chenard

Author: Marty Chenard

Marty Chenard
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