Watch the NASDAQ 100 chart

This is one of the very few charts that I have seen today that looks like it has any play left in it whatsoever.  But it is a very important one so it has to be respected. I think it is more than a little possible that they dip into wave 4 of an ending diagonal, hold the lower rail and then come out strong into the 4th of July weekend.  After all, what trader wants to begin a major sell program just before a holiday? 

Again, the lower rail is likely important here.