Kumowizard

NAS100 - OK, it is still bullish, but a bit overbought

FX:NAS100   NASDAQ 100 index of US listed shares
178 2 4
Weekly:
- Still now close below Kijun Sen, so the trend is still very bullish , key supports (Kijun and future Senkou B) are coming higher
- Heikin Ashi signal switched to bullish again, but haDelta is reaching extreme high area, so we may see some momentum slow down soon

Daily:
- Back to bullish Ichimoku setup. Remember, a valid bearish Kumo breakout needs the criteria of close below previous key support low. It did not happen, so Price blew up to new highs.
-- Heikin Ashi is bullish , but looking at haDelta, which has started to turn down from extreme high level, we may see some bullish consolidation or a 1-2 % pull back later this week.
Babar PRO
a year ago
thank you for the helpful insight
Reply
o5jaylee
a year ago
Great job!!!!! The last few candles on the daily sure looked stretched out, maybe a bit overbought?
Reply
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