NASDAQ – The gap down isn’t enough to negate the upward 3 scenario but it would need to hold at least 4525 to keep the big upward 3 possibility intact..it’s held so far but we need to see what happens at the close..maybe 5 waves down from intraday high.

DOW: 16,100 is 618 support of the rally from the low of the cup and handle Wave 2..if it can hold that level and break above 16350 it would help form an upward 3 and keep the scenario intact..