No Bullish Turn in the Market Trend Leader ~ The Risk Averse Alert

Tuesday, August 18, 2009

No Bullish Turn in the Market Trend Leader

Keeping with yesterday's NASDAQ trend-leader theme...

NASDAQ 5-min

Failing to fill yesterday's [very] wide gap and losing relative strength as today's rally progressed, NASDAQ appears poised for a little more pressure.


Still no sign of elevated fear precipitating an increase in the number of shares offered up for sale. That's not good if you're a bull, particularly with momentum rapidly fading.

Seems likely, though, NASDAQ's 50-day moving average will offer support ... at least until Friday's August options expiration.

Fast Money
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