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Technical Analysis

NASDAQ 100 - New level

by Antonis Benis, on Jul 17, 2020 2:16:35 PM

This is a short update of my last report on NASDAQ 100 on July 9th.

I had to revisit my charts and I believe to have found the right level which is 11060/11140 (reached on July 13th) and the 10x12 calendar angle (from the 2000 major high). See charts 1,2; weekly and daily respectively.

 

 

NASDAQ 100 - weekly

 

Nasdaq 100 - daily

 

In addition Nasdaq 100 and S&P (both spot) have registered a perfected TD daily sell setup 9 on July 14th. Seasonality positive into next week, cycles pointing down into the second half of August.


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Conclusion

 

NASDAQ 100 must have topped, some kind of retest of the high may take place into next week. The anticipated correction may be a big one, 10+%


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Topic:Trading SignalsAsset AllocationActive TradingInvestment StrategyNASDAQFundamental AnalysisNYSEDaily Trading Update
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