Nasdaq Breakout Goes for Week Four!
The Nasdaq breakout has now cleared the August highs and exposes a key resistance zone just higher at 14327/49.
Initial support now 13242 with bullish invalidation raised to the February highs at 12880.
Tread lightly here, this thing has rallied 8 of the last 10 weeks- threat for a near-term washout is ripe. .
Michael Boutros, Sr Technical Strategist with FOREX.com
Twitter: MBForex
MBForex
Initial support now 13242 with bullish invalidation raised to the February highs at 12880.
Tread lightly here, this thing has rallied 8 of the last 10 weeks- threat for a near-term washout is ripe. .
Michael Boutros, Sr Technical Strategist with FOREX.com
Twitter: MBForex
MBForex
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.