It came, it saw, it conquered, then retreated. The equal weighted Nasdaq 100 (QQEW) edged a breakout earlier in the week but has returned inside its base following the selling of the past few days. I have redrawn resistance as a result. The index has switched to a 'sell' in On-Balance-Volume, but other indicators are still bullish.
The Russell 2000 (IWM) has also dipped back into its base, but volume has been steadily falling the past few days as On-Balance-Volume trends lower. The 20-day and 50-day MA have been playing as support and the last convergence of these averages provided the catalyst for the breakout attempt and should offer support again if prices fall back to these levels again.
The S&P (SPY) hasn't fallen back into its prior base as it looks to give latecomers another bite of the cherry; anything in the low 7600s should be seen as attractive for longs. Technicals are net bullish.
The Nasdaq is caught in the middle of its trading range as On-Balance-Volume returns to a 'sell' signal. I wouldn't read too much into this index until it gets to either 25K or 27K.
Bitcoin (BTC.X) continues to knock around below 65K and it may require a retest of 57.5K before buyers get a second wind. Technicals are a bit of a mixed bag, but if it can make a strong run at 65K then there is a bit of room to get it to its 200-day MA.
Today's losses were in line with expectation after early week surges. Look for tests of breakout support and take advantage with long trades. Long term investors have Bitcoin as indices come back within range of their 200-day MAs (i.e. are no longer overbought).
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