Kumowizard
Short

NAS100 - The "weakest" chain. Bias switches to neutral/bearish

FX:NAS100   NASDAQ 100 index of US listed shares
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It is funny to say "weak", as all equity mkts have become uber bullish , but the truth is that among three major US indicies Nasdaq100 has been the weakest, it started to underperform a bit the SP500             and DJIA             .

Daily: For the last 6 days Nas100             could not make a new higher high. The last three days' doji-like candles are within the body of the bigger red bearish candle, and seesm today we may havae a chance for a small bearish follow through. Slow Stoch and MACD are both bearish .
Ichimoku setup is still bullish , but Kijun Sen is catching up, and as that is the first support level , it will be important to watch how Price behaves at the 26 days avg.

4 Hrs: Price action turned neatral, and now may turn into short term bearish . We had a higher high, from where Price dropped back to the Kumo and 100 WMA . DMI             is also bearish with increasing momentum ( ADX coming up).
If Price breaks the 100 WMA and the Kumo cloud, then then we will have further bearish confirmations in form of a medium strong Tenkan/Kijun bearish cross, and possibly a bearish Chikou Span cross too.
The ultimate support to watch is at 4280.
Good call again. Thx!
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