sumastardon
Long

Nasdaq 100: NAS100 Powell Rides to the Rescue

FX:NAS100   NASDAQ 100 Index
Nasdaq 100 NAS100

After an early session fail at the neckline Nasdaq duly found the support it needed but it arrived just above the 6698 line and then shot higher as Powell rode in to the rescue.

It's since powered straight to the next target at 6902-6919 after a high at 6917.

Thank you Jerry. Thanks to him that IHS completed in a few minutes flat :)

It's shot up 3% today and is a little over-extended right now.

As with the other indices covered tonight it would be handy if it came off from here, breaking below 6900 to trigger further weakness back to 6795 where it should bounce again (and from the neckline at lowest) in the event of weakness once 6900 is lost.

And if we don't get the expected consolidation from current levels it can push higher still to 6955 at likely best overnight before it begins to consolidate from there - if so will have to see how it holds up at 6903-0 on any retests to judge how strong it's likely to be during tomorrow's session.

Has to break above 6920 to scalp long to 6955 and then has to break above 6960 to follow long again (in event of no consolidation) to 7096.

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