38.2 retracement holds the correction today
The Nasdaq is really moving around in up and down chunks.
Having said that, it trades in an up and range. The high just stalled up at the 38.2% of the week’s trading range at 7036. That keeps the bears in charge.
However, the lows today are higher over the last few hours of trading. The price just tested the lower trend line and held at 6941.
So volatility is up there, but buyers are trying to stall the fall, and the sellers are trying to put a lid on it too. What those levels for clues.