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Nasdaq: Sell opportunity towards the 1D MA50.

TVC:NDX   NASDAQ 100 Index
NDX has been trading within a Channel Up since July (1W RSi = 64.749, MACD = 236.300, Highs/Lows = 208.4773). Last week that pattern touched the Higher High trend line giving the first Sell Signal. The 1D RSI is on a bearish divergence similar to the late July Higher High.

Technically the index must touch at least the 1D MA50 before it resumes the bullish trend , so 8,030 is a moderate Target. Traders who can tolerate more risk may extend all the way to the Higher Low zone (green) and the 7,830 Gap Target.


See our recent successful trades on Nasdaq using this Channel:








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Hi @Investingscope
Is the idea still valid?
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