NASDAQ Composite Index (COMP) has been moving up and down between 2300 -2350 and 2550-2650 several times the last few months. If you traded according to my analysis of support and resistans in my commentary of August 8 you should have made same good trades.
Now we have still have a support area around 2300 and a resistance area around 2600-2670. It looks though that we could have a good chance of breaking upward and reach the area around 2880. Therefore, be careful with your short positions. Use thight stop losses or only use long positions in your trading.
I will now add to my long positions with a stop loss at 2580.
