The Nasdaq Composite is in the midst of another selloff. Will the current volatility result in new lows?
Well, that is the million dollar question right now.
Clearly, tech stocks have been market leaders during the decade plus bull market… so naturally investors should be watching.
Today’s chart is long-term look at the Nasdaq Composite. And, as you can see, this key tech index is testing 13-year support for the THIRD time!
As you know, support is support until broken. And it has paid to buy tech stocks when the 200-day moving average and rising trend support.
Will it be different this time??? Will 3 times be a bearish charm? My gut would say if this zone doesn’t hold, it’s not the best of news for Tech. Stay tuned!
Nasdaq Composite chart
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