Nasdaq-100 outlook for September 23, 2014

The technical damage caused by Monday’s fall remains contained as long as Nasdaq-100 stays inside its one-month long 4.050-4.100 consolidation range. MACD is on a sell mode but we favor the scenario of a new high soon. There is good support below, at the psychologically important 4.000 points mark, which is also the July high and the 50-day MA.

NASDAQ-100, daily chart:

NDX_daily_20140922

Chart courtesy of StockCharts.com. http://stockcharts.com

Please read the Disclaimer!

RECEIVE MY TRADING REPORT FREE OF CHARGE FOR 2 WEEKS BY SENDING ME AN E-MAIL AT: THETRADINGSTRATEGIST@YAHOO.COM !!!