Right now traders are just holding their breadths to see what happens.
If you have a look at the nasdaq, (or the leader of the market) we seem to be what I term coiling where the market spends a few days of doing hardly anything, after a big movement.
Do not worry this is normal, after such an extreme move, and the smart money taking their position.
The nasdaq has still not hit its upper targets, and the market is holding fairly well. So right now the best thing do to is to be patient.
GOOD THINGS COME TO THOSE WHO WAIT? well, that could be the case here. However we may have to wait till later in the week to get a better read of things.
The bulls still have the upper hand here, otherwise we would be down much more significantly.
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| Nasdaq Update |
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