Nasdaq 100 Index still positive whilst within the parallels
Nasdaq 100 index is still very positive whilst within the parallels that govern the current impulse wave. If there's going to be a problem it lies 1% higher from here, as the Nasdaq Composite index reaches 6150. The composite index will need to break through it's restraining long term resistance line at this level for the Nasdaq 100's rally to remain unimpeded in the nearer term. Suggest going flat again as these levels are tested on the Composite index just in case this powerful line of resistance stops the rally dead in its racks for a while.
And then if this line is broken on the upside we have powerful confirmation that this rally is close to unstoppable (for now at least) and we go long again. That way we trap in almost all profits on this trade, whichever way it turns when we reach 6150 on Composite.
And then if this line is broken on the upside we have powerful confirmation that this rally is close to unstoppable (for now at least) and we go long again. That way we trap in almost all profits on this trade, whichever way it turns when we reach 6150 on Composite.
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