ContraryTrader

Nasdaq short term outlook

TVC:IXIC   Indice Composite US
Headed towards gap fill at 13842(Yellow line). Consolidated a last few day after that massive 600+ 3day rally.. My only concerns are those 3 gaps left behind ; 2 of which I highlighted. I really find it hard to believe the Nasdaq can reach new highs without closing at least one of those gaps. It'll be interesting to see what happens once it reaches 13842, if it punches through then 14k is incoming. Green line is fib support. If it falls below 13620 I'd look for a nearest gap fill.

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