NASDAQ 100 INDEX - $NDX
Monthly chart continues to show weakness,with the index trading well below all its key moving averages and the down trendline in place. The market found short term support right off the .786 fib level, which was my first downside target. There is no buy signal/pattern evident on this timeframe as of yet.
Weekly chart shows continued weakness and selling pressure. Index remains below all its key moving averages on this timeframe. No buy signal/pattern evident on this timeframe.
Daily chart shows continued weakness and selling pressure. Index remains well below all its key moving averages. No buy signal/pattern evident on this timeframe. Look for continued weakness and a final move lower.
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