If you zoom out to a 20 year chart of the Nasdaq Composite index, you will find that we are trading slightly above the highs during the 2000 Tech bubble. With the decline this week in the market, the Nasdaq managed to pullback down to retest the tech bubble highs @ 5,132. So far, judging by the last two days, it has been a successful retest.
The futures are off to a good start this evening, if oil cooperates, we could see some fireworks here as we end the week. Conversely, should 5,132 fail to hold, I will be looking to short the market with great vigor.
Here’s a daily look at the NASDAQ:
