Nasdaq 100, DAX, Oil & Extra – Charts to Watch
The Nasdaq 100 continues to sit down on its highs together with the opposite US indices, and this fairly frankly makes buying and selling troublesome. With the place the market at the moment sits and with out volatility, the market seems to be too excessive to purchase, too sturdy to quick. It makes establishing recent positions in both course notably tough.
The pondering is that we’ll quickly see a little bit of a reversal in fortunes, however till sellers present up looking for a high is often a troublesome enterprise. One chart we checked out immediately was the weekly Nasdaq 100 (log scale), the place a transparent bull market channel is obvious. The NDX is approaching the higher crust of the channel, and will it achieve this quickly it’d mark the highest of the present rally.
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