NASDAQ 100 has been heading in a strong bullish trend creating all-time highs month after month. With Biden signing into law the 1 trillion dollar infrastructure bill on Monday, we can expect US100 to create new all-time highs.
Last week US100 price pulled back to the 61.80% Fibonacci retracement around 15900. This created a 3% retracement, the biggest pullback we've seen since early October.
Currently, the price is stuck in a 61.80% Fib Overlap. I'm personally only looking for buys.
Bullish Scenario #1: Pullback + rejection at 16110. Bullish Scenario #2: Breakout of 16250.
If bullish scenario #1 plays out, then we can use the second scenario for scaling in.