NASDAQ Possible short-term pull-back.

Last time we analyzed Nasdaq (NDX) was a week ago (June 23, see chart below), giving a comfortable buy signal as the price was rebounding at the bottom of the 6-week Channel Up:

NASDAQ Will the 4H MA200 support the Channel Up?

The price hit our 22300 Target and has now touched the top of the Channel Up. Based on the 4H RSI, it resembles the May 15 price action, which soon after pulled back to the 0.382 Fibonacci retracement level.

It is possible to see such relief profit taking on the short-term and a test of 22200 (Fib 0.382).

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