Although the Nasdaq 100 is the only index that did not drop below the lows seen last week, the 50 and 60 day moving averages have crossed each. Last time this cross occurred the index dropped around 3.75% and fell in line with a supporting trend line. a 3.75% drop this time is around the 5595 level, however a trend line is not near. The previous 50 day cross below of the 60 seemed to find support at the 150 day moving average. This could occur again around 5595. However, the most likely trend line would be around 5490. If the Nasdaq 100 fails to break above its current resistance trend line, 5595 and maybe 5490 are very possible
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!