The major indices are moving toward a double bottom pattern. We are approaching lows on the Nasdaq 100 from late January 2022. The Nasdaq futures currently indicate we will open near those levels tomorrow, February 22nd. Watch for rejection of this level for a potential near-term rebound. We want to look for bullish price action and at least two strong closes above support on the Nasdaq for confirmation. The S&P and DOW and further to fall before retesting lows from January. I will be updating the commentary if the DOW and S&P reach the retest levels like the NASDAQ.
