ValerianK

The Nasdaq reaches a critical resistance and could reverse.

Short
BATS:NDAQ   Nasdaq, Inc.
The Nasdaq is forming a falling triangle pattern. It has been in an uptrend since October 2023, as have the stocks that comprise the Nasdaq. At the moment, it is approaching the resistance line on the upside and could get rejected. What does this mean for the other stocks?

- On the 3-line indicator, the mid-trend line (blue) crosses below the long-trend line (green), which is bearish.

- On the RSI, the RSI line crosses below the moving average, indicating a reversal.

The last time this happened was in November 2022.


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