Chart of the day: Nasdaq 100

Blake Morrow Forex Analytix

A month ago, wee had the 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.

Author

Blake Morrow

Forex Analytix

Blake Morrow spent most of his professional career as the Chief Currency Strategist for Wizetrade group for 15 years, and then the Senior Currency Strategist for Ally Financial after the acquisition of Tradeking which owned the Wizetrade Group.

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