Market Analysis (27 May’21)

The Nasdaq index has been struggling with the 13700 level for the last 3 trading sessions. In order for the bullish momentum to continue, the index needs to confidently break out on significant volume and momentum.

If NDX can’t move above the 13700 resistance tomorrow, I would expect further consolidation below this critical level early next week. Ultimately, if / when NDX finally moves above the 13700, we should expect new all time highs.

NDX, 1d

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