NASDAQ NEUTRAL TO BULLISH OUTLOOKNASDAQ closed lower yesterday after negative free cashflow forecast from Micron Technology. But the tight labor market and upper pressure on wages have a big chance of further increasing the inflation. Investors are awaiting the Core CPI figures today, which, if above forecasted, as it often happens this year, will put the index into another bullish movement.
On the technical front, NASDAQ broke the resistance on the falling wedge pattern and the MACD histogram is above 0, indicating possible end of the downturn. On the other hand though, RSI still remains well below the neutral 50 line.
If the bullish pattern continues, the instrument might reach levels of 13 165, but on the other hand if it is a false breakthrough, it might test its previous low at 12 950.
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Nasdaqneutral
NAS100 - Possible scenarioCaptured the big 4h move on the resistance level! Now im going to look where price will retest and go back to it's normal behaviour.. Price will probably reverse on one of the fib levels or marked levels.. if not it will break them and continue to the down side..You gotta monitor this shit
