Nasdaq 100 has created a key support line dating back to September of 2009. Support remains support at the current time.
With a uniform falling channel at hand and the potential “Head & Shoulders” pattern in play, if the Nasdaq 100 breaks support, the decline should be sizeable and swift. For anyone long the NDX, great line in the sand to protect values.
If support breaks and you are looking to score on defense, great place to acquire an inverese ETF with a 3% stop.