Has the rally in the Nasdaq 100 ended? $NDX

12 Oca

The Nasdaq 100 index achieved a rally that nearly began in October 2022, reaching a peak gain of 111%. It appears that the rally is nearing its end with the formation of a "cup and handle" pattern and a divergence between the Nasdaq index and the RSI (Relative Strength Index) on the monthly chart. At the target level, the closing was marked by a Doji candle.

13 Mar

İşlem aktif

So far, March has been a total mess for the Nasdaq 100—hands down the worst performance since December 2022. This comes after I flagged that the long rally might be running out of steam. Looking at the medium and long term, things ain’t looking great right now. The main trend that kicked off late 2022 just got smashed, and the RSI is throwing off some ugly signals. Still, that doesn’t rule out some quick, short-lived bounce-back waves to shake things up.