Last week, I published an article here about the potential for a decline on the Nasdaq 100 Index (NDX).
It was the basis for a short trading idea (with a tight stop), or even just a hedge against longs.
Today, I am simply going to provide an updated Nasdaq 100 chart with my thoughts. I have identified a near-term downside target at 13575. What at this level will tell us more about this pullback and whether or not this reversal will develop into something more ominous.
Nasdaq 100 Index Chart – Pullback Analysis
The author or his firm may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
