|NDX resistance and Apple mini flash crash|
|Written by Marc Eckelberry|
|Tuesday, 06 March 2012 14:10|
The AAPL min flash crash of February 15th was a significant event, and one that should be on everyone's charts, just as the May 2010 bigger crash was. These events get revisited in one form or another. This puts a specific level of resistance for NQ (NDX futures ) at 2600.50, the high that day before we flushed lower. That high was also the breakout level on February 27 which led to the 2650 high of last week and the selling of Nasdaq 3000. Losing that level (2600) today is a failure that must be noted. Unless we close back above 2600.50, we are in sell the rallies mode. If short, this also gives you an important level for your stops.