We like what appears to be a short-term bottom developing on the Nasdaq 100 Index (NDX), and we are bullish on a long trade right here.
Getting above Tuesday’s high of 14520 would clear the highs of this week and be a solid place to add to any long trade.
It’s a volatile market so patience and discipline are key. One step at a time.
Let’s see if the Nasdaq 100 can eventually get to and above the yellow 50-day average at 15000. Above that area would then target the December lows at 15500. The S&P 500 and Russell 2000 futures have a similar pattern, so maybe the market is ready for a strong bounce.
March Nasdaq 100 Futures Trading Chart
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