NASDAQ 100 Index Peaked? Very likely...

30 de jun. de 2020

The NASDAQ 100 Index (NDX) is very likely to have peaked.
We have multiple signals that are pointing to this.

Let's take a look at those.

• We have a bearish candlestick on the 23-June. This candle signals an upcoming drop.
  
• Prices broke below EMA10 while this indicator is curving down.
  
• Also notice the rising wedge pattern that already broke.
  
• We have strong bearish divergence with the MACD and RSI. Remember that this signal is stronger when it shows up on both indicators.
  

The NASDAQ100 Index (NDX) is likely to drop some more.


Conditions for change

If the NDX moves and closes above the ATH, these signals become invalid and a new analysis is needed. The potential for additional growth opens up.
Below the last high and/or EMA10 we remain bearish.

Thanks a lot for your support.

Namaste.