Trading Signal for NASDAQ 100, #NDX, for September 09 - 10, 2021: Sell below 15,650 (SMA 21)


The Nasdaq 100 technology index, #NDX is trading below the strong resistance of 15,694. Since August 31, it has been consolidating below this level. Now it is below the 6/8 of murray and for below the 21 SMA, showing a bearish bias.

There is a possibility of a pullback towards resistance at 15,660. If the Nasdaq fails to break above its all-time high, it could be a good opportunity to sell with targets at 15,312.

The eagle indicator that measures the volume and strength of the market, is showing a sign of a bearish divergence. It is likely that in the coming days there will be a downward movement until the support of the 200 EMA located at 15,210.

The last 4-hour candles that have formed since August 31, limited to a range between 113 points, suggest that investors are waiting for some data to act as a catalyst for the price. The market may take the bearish direction, which shows the technical analysis. Alternatively, the price should consolidate above 15,690 for a new bullish wave.

Our outlook will be bearish as long as the Nasdaq 100 #NDX remains below the SMA of 21 located at 15,658, with targets at 15,221. The eagle indicator is supporting this strategy.

Support and Resistance Levels for September 09 - 10, 2021

Resistance (3) 15,875

Resistance (2) 15,772

Resistance (1) 15,690


Support (1) 15,584

Support (2) 15,479

Support (3) 15,357


Trading tip for Nasdaq 100 for September 09 - 10, 2021

Sell if there is a pullback at 15,650 (SMA 21), with take profit at 15,357 and 15,221 (EMA 200), stop loss above 15,730.

The material has been provided by InstaForex Company -