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The Market Ear with stock internals.
NASDAQ’s consolidation
NASDAQ continues trading inside the short term consolidation that has been in place for a few weeks. Support 19800, right where the trend line comes in. Resistance at 20200. Note the negative RSI divergence continuing as well as this potentially being a second lower high.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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