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Saturday, June 04, 2011

NQ & its "Pink Diamond"...

I've mentioned the NQ and its "Pink Diamond" formation in previous posts:

http://strawberryblondesmarketsummary.blogspot.com/2011/05/diamond-in-rough.html

http://strawberryblondesmarketsummary.blogspot.com/2011/05/will-this-diamond-break-hold.html

http://strawberryblondesmarketsummary.blogspot.com/2011/05/three-black-crows-on-nkd.html

On Friday, price closed at the Apex of this pattern once again and just above the 78.6% Fibonacci Fan line as shown on the Daily chart below...this level was tested on May 25 immediately following a "Three Black Crows" formation. Should the NQ continue its decline, the next support level is around 2250.