{"id":12064,"date":"2022-06-06T09:13:11","date_gmt":"2022-06-06T09:13:11","guid":{"rendered":"https:\/\/tradingshot.com\/?p=12064"},"modified":"2023-05-10T09:17:19","modified_gmt":"2023-05-10T09:17:19","slug":"nasdaq-sideways-but-still-off-the-top-of-the-channel-down","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/06\/06\/nasdaq-sideways-but-still-off-the-top-of-the-channel-down\/","title":{"rendered":"NASDAQ Sideways but still off the top of the Channel Down"},"content":{"rendered":"

 <\/p>\n

Nasdaq (NDX) has been trading sideways since May 30. The 1D MA50 (blue trend-line) is right above with the 1D MA100 (green trend-line) being roughly around the Lower Highs (top) trend-line of the Channel Down.<\/p>\n

Based on our previous analysis 2 weeks ago, the index was on a W pattern aiming at the Resistance as part of the Lower Highs formation:<\/p>\n

\"NASDAQ<\/a><\/div>\n

So far so good if you took that buy, you may start taking profit at will. The reason is that only a break above the 1D MA100 can justify further buying and that’s only to the 1D MA200 (orange trend-line), which last time rejected the uptrend from March 29 to April 05. Until the Lower Highs break, the trend is bearish towards the 11500 Support. A confirmed sell if you are looking for a lower risk factor, would be when the MACD makes a Bearish Cross.<\/p>\n

As for a long-term bullish reversal only a weekly candle closing above the 15300 March 29 High can sustain it.<\/p>\n

Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/US100\/MGhr88D9-NASDAQ-Sideways-but-still-off-the-top-of-the-Channel-Down<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  Nasdaq (NDX) has been trading sideways since May 30. The 1D MA50 (blue trend-line) is right above with the 1D MA100 (green trend-line) being roughly around the Lower Highs (top) trend-line of the Channel Down. Based on our previous analysis 2 weeks ago, the index was on a W pattern aiming at the Resistance<\/p>\n","protected":false},"author":611,"featured_media":12065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1639],"tags":[],"class_list":["post-12064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stockindices"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=12064"}],"version-history":[{"count":3,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12064\/revisions"}],"predecessor-version":[{"id":12068,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12064\/revisions\/12068"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/12065"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=12064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=12064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=12064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}