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US 100 Index

NASDAQ waves and trend lines - still in down channel

By Dr_Roboto
Updated
Here is what I have for the NASDAQ. Same as my S&P analysis. Still in the down channel and I laid out a falling wedge pattern. I think there may be a good drop this week before a more noticeable bounce.

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Comment
Morning breakout. The S&P is still within the down channel but this breakout move in the NASDAQ does not have a precedent. I am still not sold we are read for a major rally, but we will have to wait it out this morning.
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Comment
Unlike the S&P that is just under the 50 day MA, the NASDAQ broke above the 50 day in premarket.
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Chart PatternsDJINASDAQ 100 CFDQQQSPX (S&P 500 Index)Trend AnalysisWave Analysis

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