Nasdaq-100’s bad Thursday brought it down to crucial 50-day MA support, just over the psychologically important 4.000 level. The index has been trading in a volatile way between 4.010 and 4.110 (multi-year high) during the last two weeks. MACD is on a clear sell mode. There is good support below, at the 4.000 points mark, before 3.975 and 3.940 come into play. Short-term resistance @ 4.045 and 4.060.
NASDAQ-100, daily chart:
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 !!!