NASDAQ May be entering a short term correction wave

1 thg 6, 2023

Nasdaq / NDX / US100 is near the top of the 6 month Channel Up.

Since the middle of that pattern, it started to form a narrower Channel Up.

So far we have had 3 correction waves inside the larger Channel Up, each less aggressive than the previous.

The 1day RSI is forming a Rising Resistance pattern same with the previous in February 2nd that priced the peak of the Channel Up.

Sell if the RSI crosses under its MA line.

Buy a little over the 1day MA50. Target 15280 (Resistance A, High of March 29th 2022).


Previous chart:

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