NASDAQ 100 Technical Analysis
- Spinning top (near-doji) inside previous bearish candle. What it means?
- Initial buying after the gap up was met by selling pressure, signified by the long upper wick. "Dumb money" was buying after the violent bounce in the futures, "smart money" was selling. Although the spinning tops and dojis are indecision days in the middle, overall this is mildly bearish, awaiting next candle's confirmation.
- About 55% and 45% of NASDAQ 100 stocks are below the 50D and 200D MAs, respectively.
