Blake Morrow’s Chart of The Day
Forecast NASDAQ 100
A month ago, we had the Forecast Nasdaq 100 as our chart of the day and warned we were at the top of the channel with some strong divergent RSI. Since then, the index has rolled over and may be forming a head and shoulder pattern with the neckline near the 14700 level. A break of this level could allow for a move to the channel support and 161% Fibonacci golden extension of the last move higher at 14100.
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