Nasdaq 100 A close above resistance at around 15,561 will resume uptrend. However, with the sell-off Friday downtrend is likely to resume. A close below 15,138 will confirm the bearish scenario that if unfolding is likely to take Nasdaq down to key support at around 14,687.
If broken next support levels are 14,254 and 13,589, where 200 Moving Average is likely to add to the support strength.
RSI is still showing negative sentiment having failed to close above 60 thresholdOn the weekly chart Nasdaq 100 is broken bearish out of its rising Wedge like pattern. A Pullback has occurred end August but it has not demolished the potential top and reversal scenario. A close above 15,932 is needed for that.
A close below 14,557 a medium-term downtrend is confirmed