E Nasdaq 100 Index Probably Heading Lower

In my prior post from September 9, I said that if the Nasdaq 100 index stayed below the moving average and closed convincingly below 11.000, then I would expect lower index levels. One can argue if Friday's close under 11.000 was strong  enough, but the overall pattern now looks more bearish to me and I think the index will head lower at least over the next few days. My two potential targets are, as I mentioned earlier, 10.250-9.500. I will re-evaluate my view if the index closes above 11.500.

 

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.