The Nasdaq has been on fire lately so let’s see where it’s at. I just want to point out some features – make up your own minds.
On the monthly chart the obvious stand out is the perfect double top exactly at the 50% level. That’s big.
The double top on the weekly chart looks terribly like a mirror image of the double bottom of 2009.
Take your pick of the indicators on the daily chart. All giving the same message. The 200day SMA coincides with the uptrend line as first major test of defence.
And finally the hourly chart is hanging on for dear life at 2750 to remain in or above the bullish colour zone.