NASDAQ-100 Daily Forecast Mar 27 2014

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The NASDAQ-100 continued its bearish momentum yesterday , printed resistance at the 3645 levels . This development leaves the index targeting the 3522 levels , a halt is likely , but losing the 3522 levels on a daily closing basis will open the 3477 levels .At this point I’d expect strong support from the 3477 levels to contain fall from the 3645 levels and bring rebound to the upside , If 3477 fails on a daily basis , expect the index to weaken further towards the  3410 levels and possible lower towards the 3350 levels.

On the upside , resistance comes at the 3645 levels , break of this level on a daily basis would turn outlook neutral for retesting the 3720 levels before the next fall, to reverse risks to the upside , a clear break above the 3720 levels is needed otherwise the risk will remain to the downside …

In all , as long as resistance 3645 holds on a daily basis , the NASDAQ-100 index will remain based to the downside towards the 3522 levels ahead of the 3477 levels , break of 3645 levels on a daily basis will reverse risks towards the 3720 levels before the next fall.

 

NASDAQ-100 Daily Forecast Mar 27 2014

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