BizZinessFX

BizZinessFX

This chart presents a comprehensive technical and macro assessment of the NASDAQ 100 (US100) using the daily timeframe. The focal point is a developing Head & Shoulders (H&S) pattern, currently unconfirmed, but well-formed with strong structural and momentum confluence. 🧠 Thought Process & Structure The chart reveals a potential H&S pattern with the right...

BizZinessFX Updated 

I believe that as NAS is extremely overbought, there is a possibility of a trend reversal. NAS completed wave 5 of the Elliot pattern and is in the process of forming a head and shoulders pattern.

BizZinessFX Updated 

NAS could reach 14400 or it could fall below the bottom trendline if wave 5 of the Elliot wave pattern is already complete at the last high. I believe it is more likely to reach 14400.