Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
NAS100 Looks Vulnerable

NAS100 Looks Vulnerable

Paul Robinson, Strategist

Talking Points:

  • Double top remains intact
  • Downtrend on 4-hr in place since 12/29
  • Near-term picture is bearish under 4200

NAS100 looks vulnerable here as a series of lower highs/lower lows begins to develop after recording a double top during the month of December. As pointed out last week, the SPX500 looks to be in the process of developing a top. As long as the NAS100 stays below the trend-line off the 12/29/14 peak, the bears have the upper hand. At this time, it will take a strong move above 4200 to negate this bearish bias. A decline below 4049 and the underside channel line (dotted line) will further confirm the downtrend.

NAS100 4-hr: Oct ’14 – Present

--- Written by Paul Robinson, DailyFX Research

To contact Paul, email him at instructor@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES