The Nasdaq 100 is starting to etch out a head-and-shoulders pattern like the S&P 500. This comes after breaking the bull channel dating to September 2020. It could be that price action is capped on the upside by the 200-day moving average just over 15k, but if not it isn’t viewed that the NDX will be able to climb over the underside parallel of the bull channel if the market is to eventually head materially lower.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.