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Bearish Gartley Pattern Hints at Downward Potential for Nas100
NDX
, 1D
Short
NDX: Bearish Gartley Pattern Hints at Downward Potential for Nas100

• The Nasdaq 100 index has likely formed a bearish Gartley pattern - a classic harmonic configuration • The MACD indicator formed a bearish crossover and pierced below the neutral midpoint, pointing to mounting downward pressure

Nasdaq 100: Bearish Gartley Pattern Hints at Downward Potential
NDX
, 1D
Short
NDX: Nasdaq 100: Bearish Gartley Pattern Hints at Downward Potential

The Nasdaq 100 index has entered a technical correction since mid-April, falling more than 6% from its record high. The index formed a bearish Gartley pattern as highlighted in the chart above, suggesting that further downside potential is likely. The Gartley pattern is a classic harmonic chart pattern, based on Fibonacci numbers and ratios.

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