QQQ/Nasdaq holds its breakout above the prior all-time high, though down 0.15% today. If selling continues, support is the 26,900 trend line from the March low, where I expect a bounce; if the S&P pushes up, QQQ likely crosses 28,000, with resistance just above.

Next up, we've got the NASDAQ. NASDAQ, as you see here, has since has curled right back over, but still maintaining price action. Within the last week, we haven't had that big of a dip.

Yes, the NASDAQ has been under pressure. Even today, down 0.15%, but really just kind of sideways to diagonally down movement on the chart. Most importantly, maintaining the breakout that it once established above this previous all-time high.

So, it's doing a good job doing that. And it's also maintaining above the other near-term breakout, this declining trend line. If we have any other further selling on the NASDAQ, this inclining trend line will be the support.

That level is at 26,900 points. And I'll remind you, and for any new viewers, that level comes from this low in March of this year. Each time price has gone up, it's come down.

It's gotten a bounce right off of that trend line. I would anticipate to see the same sort of response if we have further downside pressure. But like the spiders are targeting an $8,000 or the $800 print 8,000 point print on the S&P that level that I'm targeting for the IXIC.

Should the spiders continue pushing up, we likely we s will see the NASDAQ cross over the 28,000 point mark. I can see that happening with an inclining trend line of resistance just above that.

So, if we do make a push like I see on the S&P 500, we definitely could be tagging and knocking on that door of 28,000 on the NASDAQ