Nasdaq 100 ( $NASDAQ 100(NDX)$ ) Technical Analysis Nasdaq 100 E-mini futures to show intraday prices 1. Breakout from a Rising Wedge The price broke below a rising wedge pattern, signaling a potential reversal from an uptrend to a downtrend. Rising wedges typically exhibit higher highs and higher lows, but a downside breakout suggests weakening bullish momentum. This breakdown increases the likelihood of further downside unless the price reclaims the wedge’s former support (now resistance). 2. Current Trend: Lower Highs and Lower Lows The NASDAQ is forming a series of lower highs (LH) and lower lows (LL), confirming a near-term bearish trend. Lower highs indicate fading buying pressure, while lower lows reflect sustained selling momentum. Th
Key Resistance Level: Will S&P 500 Break Out or Turn Lower?
The S&P 500 has rebounded to 5,650 points—its level before April’s sharp sell-off and a key technical resistance zone. Following strong earnings reports from the Magnificent 7, this week’s market focus shifts to the FOMC and its signals on interest rate cuts. The market is still pricing in three rate cuts this year. ------------- Can the S&P 500 successfully break above the 5,600 level, or will it turn lower? And more importantly, can it overcome the seasonal “Sell in May” pattern?
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