Nasdaq test 50% midpoint of range since March high
The Nasdaq index opened lower but has seen buying over the early minutes of trading. The price high has reache to 12616.43. That took the price back above the 50% midpoint of the move down from the March 30 high at 12606.02.
However, the price has rotated back down and trades at 12586.
That 50% is the barometer for the day today for me. Stay below and the correction lower can continue. Conversely, if the price can get above and stay above with momentum, the squeeze is on once again.
Be aware.