Nasdaq short term update
Broke thru resistance trendline on chart and RSI yesterday ; Momentum is continuing this morning l. Premarket numbers have it right At its 50MA at 13427. It will take a lot of volume to push through that. If it can reclaim it the next resistance/target will be 13620. In my opinion , even if it climbs back over the 50ma early in the market I don't think it will hold if we see a sell off in the last hour like we did yesterday which would leave right back where we started Monday. Next support if any rejection of the 50 mark is fib support at 13331 (Blue line).
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