Sometimes the big picture is really just very confusing and so it helps to zoom way in to look at the microscopic level. Today I want to point out that the recent dead cat bounce in the NASDAQ composite was unable to meet or exceed the last bounce. Yes, the difference was only a few pennies but if it was such a trivial miss then why didn't it just go ahead and exceed the old high by a few pennies.
At the very least, this low level look provides a nice trigger point to be watching for tomorrow. IF it can make a new high -even by a penny- then I have to have a bit more caution and do some more snooping around. But if it begins to plummet from here then it reinforces my world view.
Time will tell.
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