NASDAQ Composite failed to make a new high today.

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.