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Last week Chris Kimble sent this, as he described it, "scary" chart: A Nasdaq 100 Pattern in the Making?
Today Chris sent a mid-day update.
Chris comments: Last week, at 1,842 on the NDX 100 the following chart was published, reflecting a potential "Head and Shoulders" pattern, with the price zone to watch for between 1,870 and 1,190.
Shortly after noon central today, the NDX 100 reached 1,878, touching the 38.2% Fibonacci retracement level.
Are we there yet? Don't know for sure, yet the lower end of the "price zone" was reached.
For those looking to score on defense, the price has been reached to start putting positions in place.
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