Nasdaq-100 outlook for November 5, 2014

Nasdaq-100 is consolidating around multiyear highs. A correction to 4.100, which is the September high and a major support now, is very likely to take place in the next few days. The daily trend remains up as long as price is higher than 4.085.

NASDAQ-100, daily chart:

ndx

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

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