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The Nasdaq Composite index has found support several times along line (A) for the past 30-years. It even found this line as key support during the lows of the 2009 financial crisis.
Line (B) is a parallel channel line to (A), that has become resistance several times over the past 10-years. Is this line still important? Two months ago it hit this line and stopped on a dime.
Joe Friday…Nasdaq Composite is attempting a 10-year breakout as it facing several resistance lines at (1) above!