Nasdaq100 is relatively stronger, but will correct too
NAS100 has been relatively stronger whole year compared to SPX. I showed you a couple of times it did not have such hramful breaks like SP500 did.
The setup is similar to the one we see in SP500 but again you can still see the minor differences. The buyers of NAS100 stocks will give up last!!! :-) The whole world, inculding all central banks' portfolio management desks (at least SNB's statements are public, but why would BoJ be different) are sitting in 7-10 US major stocks (I think most of them included in NAS100 index)
Daily:
- Bearish Wedge dipped even a bit since the yet really ay be broken soon
- Heikin Ashi is turning to bearish, but still rather looks like hesitation. Anyhow, haDelta/SMA3 has developed a massive bearish divergence since its extreme high peak, compared to Price which has not yet really dipped from local top.
- Ichimoku is bullish of course, but Price is extremely far above Kijun Sen! This pace of buying is impossible to hold in short term.
4H:
- Same as SP500, but this has still better (stronger) supports: 4670 is first key, 4650 is second, but as prompt Kumo is thick below Price, first dip to 4600 will likely be bought before any further wave down.
- Heikin Ashi candles show lot of fight between Bulls and Bears, but pls note how haDelta has been stuck below zero line!
All in all I think this index will have to show some correction in coming days too, but probably broad SP500 is better choice for a short.
The setup is similar to the one we see in SP500 but again you can still see the minor differences. The buyers of NAS100 stocks will give up last!!! :-) The whole world, inculding all central banks' portfolio management desks (at least SNB's statements are public, but why would BoJ be different) are sitting in 7-10 US major stocks (I think most of them included in NAS100 index)
Daily:
- Bearish Wedge dipped even a bit since the yet really ay be broken soon
- Heikin Ashi is turning to bearish, but still rather looks like hesitation. Anyhow, haDelta/SMA3 has developed a massive bearish divergence since its extreme high peak, compared to Price which has not yet really dipped from local top.
- Ichimoku is bullish of course, but Price is extremely far above Kijun Sen! This pace of buying is impossible to hold in short term.
4H:
- Same as SP500, but this has still better (stronger) supports: 4670 is first key, 4650 is second, but as prompt Kumo is thick below Price, first dip to 4600 will likely be bought before any further wave down.
- Heikin Ashi candles show lot of fight between Bulls and Bears, but pls note how haDelta has been stuck below zero line!
All in all I think this index will have to show some correction in coming days too, but probably broad SP500 is better choice for a short.
