2100 was briefly breached with a low of 2097 late in the session. Our critical support level at 2089 has not yet been tested, but the Nasdaq is not far off. I highlighted this level last week and today's chart below confirms support with the new retracement. In addition to the previous retracement spanning from April 4th to the recent highs, I added one from April 25th as well. This was the day that the Nasdaq tested 2000.
Support here is very important.
A break would lead to 2050 and then, 2000. If the Nasdaq bounces higher, watch this level for sellers as well as 2144 - 2150 further up. The wedge that was coiling and narrowing near 1270 has broken down its recent trendline. Support at 1240 was the saving grace late in the session as the markets just drifted lower on light volume. A breakdown below 1240 would be bearish confirmation that the bullish wedge has failed.