Neutral Nasdaq - Bias is negative

FX:NAS100   NASDAQ 100 index of US listed shares
171 0 3
NAS100             is in a neutral zone, but defenately looks stronger in terms of technicals than any other indexes (e.g. SPX             ). It is obvious from the weekly Ichimoku setup.

- Ichimoku setup is neutral, as Price trades ard Kumo, and both Tenkan and Kijun stays at Kumo too.
- The steeper trendline is under attack. Not yet clearly broken. Upper supp/res levels are: 4300+ (Kijun) / 4420-4440 (horizontal + minor downtrend)
- Heikin Ashi signal is mixed a bit, it has some bullish bias this week, but smoothed haDelta not yet convincing.
- Lower supp/res of 4180-4200 is getting more important as we have both horizontal and future Senkou B there. Whenever we have a weekly close below that, correction would accelerate and market tgt             3650-3700, the level of 2014 lowes and by now also the level of the longer term less steep bullish trendline .

- Pull back to test Kumo, horizontal bearish support zone and short term bearish trendline .
- Ichimoku setup is neutral. Valid Kumo breakout and bullish setup would need a close above 4400-4450!
- after haDelta reached extreme high, we have not seen a remarkable higher high in last 3 days. Heikin Ashi candle bodies started to shrink (still no lower wicks). Market started to consolidate ard resistance, short term exhaustion and a turn down from here has increasing probability. In case of a daily sell signal 4150-4200 area will be in focus again.
Read it again above how important 4180 +/- is on the weekly!!!
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out