Will It Hold?

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Yesterday’s big NASDAQ reversal got plenty of attention. As has been widely reported, the last time yesterday’s phenomenon (that is, lifetime high coupled with a big intraday reversal) happened was only once, in March 2000. The big question now is if the intermediate-term trendline from March 23rd will hold or not:


The Composite (above) has a tiny bit of damage already, whereas the NASDAQ 100 has none:


Most other indexes have already busted, albeit slightly, the aforementioned uptrend.