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NDX100 Breakout or Fakeout? Analysing the Nasdaq’s Next Move | Indices

Published: 11.12.2023
by Joseph Jeffriess

Today’s video asks if NDX100 will continue to move higher after starting to break out of a range consolidation pattern on the daily chart. When these patterns are seen in uptrends, we tend to look at them as continuation patterns with a new breakout higher confirming the pattern.

Today’s focus: NDX100 (NASDAQ)

Pattern – Continuation.
Support – 15,765
Resistance – 16,115, 16,085

We have run over what we are watching and things we want to see to confirm a new leg higher or things that could set some alarm bells for a potential fail or continued consolidation.

After Friday’s higher-than-expected jobs data, the NDX100 started to confirm a breakout. Price is close but hasn’t yet broken out, and resistance remains in play.

Will buyers shake off a weaker start to the week and push the price into a new upleg?

Good trading.

NDX100 | NASDAQ | Indices | Indices Trading | Price Action | Technical Analysis | Trend Analysis | Chart Patterns | Technical Indicators | Continuation Patterns

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