The last post of my colleague about the Nasdaq Composite Index was when it still looked to forming a head and shoulders formation (kindly see it here). What actually looked to be a head and shoulders formation back then could actually be falling wedge formation now. Given the instance that the value breaks above the resistance of the falling wedge, this index could edge higher to the price mark at 2,341.11. If the 2,341.11 marker gets cleared out, the next resistance could be 2,434.29. In case the falling wedge set up fails, the immediate support we could be looking at is 2,061.14. If the value drops further 2,061.14, the next support could be the 2,000.00 psychological level.