As we noted yesterday, the SP500 and the Nasdaq have reached significant technical levels and we warned of the overzealousness of the markets yesterday. We looked at the 12100 and 3504 in the Nasdaq and SP500 respectively and here are the updated charts:
In the Nasdaq a settle today below the 12072 area would open further downside tomorrow and a chance for sellers to regain control of this recent 500 point rally.
