After months of grinding, the $NDX (NASDAQ 100 index) has finally sealed up its price gap. Now that it’s done, if the prices can stay below this level, we’ve got a chance of a real sell-off. I’d also point out that China has already thrown the spigots wide open, so hopefully the final money shot has been spewed.
Here is the longer-term chart, illustrating the chasm between present price levels and the supporting price channel.
