Nasdaq: Short term sell opportunity.

The index is extending its bullish trend within the 1D Channel Up (RSI = 74.927, MACD = 135.620, ADX = 64.929, Highs/Lows = 106.5770). As you see this technical action is too close to the overbought zone. On top of that the MACD is converging and about to make a bearish crossover while the RSI is on a bearish divergence as it did on the last 3% drop in early December. Because of that we are expecting NDX to pull back towards the Channel's Higher Low trend line on another -3% decline. Our TP is 8,720.





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