Image Source: Pixabay

Several stock market indices and sectors are nearing important trading points within various patterns.

But arguably none more important than the major technology indices.

Today we highlight the Nasdaq 100 ETF (QQQ) along with the Nasdaq Composite Index. As you can see, both of these “must follow” charts show the potential for lower highs.

A similar pattern happened in 2000 and was confirmed when new lows were made.

On the other hand, a breakout over falling resistance would be bullish.

Lower highs or breakout, it’s clear that what happens next will be important from this market leader. 

(Click on image to enlarge)

More By This Author:

China’s Shanghai Composite Stock Index Nearing “Decision Time”
Nvidia’s Stock Reaches Fibonacci Price Target. Breakout Or Stall Out?
Silver Breakout Coming? Fibonacci Price Targets To Consider