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jaxdog
Dec 3, 2021 5:28 PM

$NASDAQ 100 / $NDX Nearing Longer Term Support 

NASDAQ 100 IndexNASDAQ

Description

Might we be nearing a support area? Looks like we can drop clear down to around 15,500, even around 15,000 without damage to the longer term trend. As you can see in October we dropped below trend line support for, in what I'll call a false breakdown. Then the trend continued up into the trend channel. Might we see the same thing? TBD. Note, I am about 90% cash here and waiting for positive price action before getting back into the market with any size. Hope this helps with perspective. I'm neither bullish or bearish nor predicting any outcome. Feedback welcome. Thanks for looking. ( See related link below)
Comments
JoeChampion
Nice work, thanks
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