NDX at a crossroad
The Nasdaq 100 has been showing weakness compared to the broad market. We've seen that DJI and NDX almost going on opposite direction each day. When NDX goes up, DJI falls, and vice versa.
Mar 11 NDX broke through the downtrend line and it's struggling to get back on a bull trend. Myself, am still bullish on the tech sector, a break like we're experiencing is healthy and makes a bull run sustainable. The purple trend line is a so-far valid trendline for NDX to slowly creeps higher. We should be monitoring important support at 12760 if this trend line breaks, in that scenario, we will be making lower lows and we should be defensive.
Right now I can see NDX retest the 13300 resistance in the near future, if we get a successful breakout, it will likely be an all-time high again.
If you're a bull buy at support at the purple trend line/ strong support at 12700. Don't get overly bearish on the NDX until it broke below 12500 and makes a lower low.
Mar 11 NDX broke through the downtrend line and it's struggling to get back on a bull trend. Myself, am still bullish on the tech sector, a break like we're experiencing is healthy and makes a bull run sustainable. The purple trend line is a so-far valid trendline for NDX to slowly creeps higher. We should be monitoring important support at 12760 if this trend line breaks, in that scenario, we will be making lower lows and we should be defensive.
Right now I can see NDX retest the 13300 resistance in the near future, if we get a successful breakout, it will likely be an all-time high again.
If you're a bull buy at support at the purple trend line/ strong support at 12700. Don't get overly bearish on the NDX until it broke below 12500 and makes a lower low.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.