NDX100 Daily Close @ 05/21/2012

The immediate test will be @ the 0.382 retrace of losses from the 2012 high of 2795.35 @ 2600 +/-.
Should that test 'fail' and the NDX reverse back lower to new lows (all academic for now); then we shall the makings of an 'impulsive' reversal from the March 2012 highs....not good.