NASDAQ hit interim downside target, now what?

As previously projected, the NASDAQ pushed further down in the last week, and with expected momentum, to hit the target in good time.

The daily chart shows the weekly action much clearer as the immediate resistance at 11725 failed and a quick drop ensued. The week did not follow through to end in downward momentum but instead clocked a small bullish harami. While unclear now, a technical bounce might be in the cards in the following week, and should show if it is happening by about mid-week.