A Look At The DOW and NASDAQ 12.08.15

Glance at the DOW: As of 3:21PM, the DOW is fading back to the intraday lows and may setup the downward 3..still a bit sideways but the cracks are starting to form..worst case scenario is a 1.618 downward 3 to as low as 17150-17200 on this break down, so I may either stay put or go short should it get worse by 4PM…a gap down may form on this failure.

Glance the the NASDAQ: [ms-protect-content id=”61,117″] NASDAQ is holding steady despite the weakness in the DOW and S&P..by itself it may help prevent the downward 3, but with both DOW and S&P weakening into the close, it might be very tough to reverse without seeing the C wave or downward 3 first..[/ms-protect-content]

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