NASDAQ Composite – April 21, 2024

My friend/mentor Larry shot an email over describing the current state of the NASDAQ composite.

Friday’s move represented only the 3rd time the Nazzie was down more than a two standard deviation – in one day. The last time happened – October 1987.

I DO NOT SEE ANY SIGNS OF A CRASH COMING BUT … an interesting factoid, one would think.

We have VERY important support coming in lower in/around 13750-14000.

Not enough of a pullback to do a good projection so … just watch the measured move level (read arrow) and then the confluence levels shown below.

Again, I think we go down into mid-May.