NASDAQ COMPOSITE UPDATE

NASDAQ;COMPOSITE; protected its 6th,NOVEMBER LOW of 13,435 on closing basis,
In our review here on 9th,NOVEMBER we discussed 13,435 as a key to reversal,
since INDEX held this level there were no point hoping for a TREND REVERSAL.
again there is nothing to add further to what I earlier shared.
As far as POINT of REVERSAL is concerned I have been very clear that a REVERSAL is subject to a certain process which we have discussed earlier.
Since levels have changed,
let’s again revisit the setup.
We shared 16th and 17th as a key turn date earlier,
So the low of 14,033 would be very critical going forward.
A daily close below 14,033 would give us initial conformations for a trend reversal.
Once that breaks that would open up lower levels but first that has to break.
Holding 14,033 this rally would continue.