NASDAQ holding 200 day moving averages so far. To me this chart looks like a head and shoulders setup with the head cutoff from the neckline. If NASDAQ can break 7360-7380 trendline area, the market can continue its ascent. To me, the most likely scenario is a test of the upper trendline over the next few weeks and then a sharp break to test the lower trendline and the 200 day moving averages again.
Longer term fibonacci support levels lower are 6133, 5209, 4451 and 3700.
Longer term 200 day moving average support levels are 6780-6800 on the daily, 5407-5508 on the weekly, and 3083-3544 on the monthly.
Longer term fibonacci support levels lower are 6133, 5209, 4451 and 3700.
Longer term 200 day moving average support levels are 6780-6800 on the daily, 5407-5508 on the weekly, and 3083-3544 on the monthly.