3 min readNASDAQ (NDX):
NASDAQ has been an interesting market to watch recently. Currently, the price is trading just above $19,500.00, and unlike the S&P 500, it hasn’t made any progress toward new all-time highs. This indicates a clear divergence between the two indices. Viewing current price action with a short bias, it’s evident that we are trading within a supply zone currently.
Looking more closely at the technicals, it appears we are currently stuck within an ascending bullish channel, with the potential to move in either direction before continuing higher or lower. The RSI indicator shows no clear signs of the price being overbought. If we trade lower, I’ll be interested to see how the price responds to the ascending trend line.
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