Goose96

NDX possible 5-wave impulse

Lång
NASDAQ:NDX   Nasdaq 100 Index
Similar to my SPX idea, the NDX seems to be forming a 5-wave impulse off the back of the AI enthusiasm. I expect a bullish pullback to pull the index lower towards the 61.8% Fibonacci retracement level of $14,000 which will flip from a resistance to a support. A break below $14,000 will allow the index to slide into the support range between $13,500 and $13,700. A break below the 50-day MA currently at $13,330 will invalidate the 5-wave impulse.

In terms of technical indicators, the daily RSI is heavily overbought which supports the notion of a pullback towards the support range. The daily MACD is holding a strong buy signal, but it is showing signs of rolling over.

Liknande idéer

Frånsägelse av ansvar

Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.