Nasdaq has been trading within a parallel Channel since April (almost 5 months now). We are now testing channel resistance again today @ 11920. However, the momentum appears strong and could carry it to the higher channel resistance around 12100 +/- by tomorrow.
Meanwhile, I am waiting to see if it continues to respect this channel.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.