This is an updated chart of the Nasdaq 100 Index (NDX), which continues to struggle beneath the MOB price target band. I have been highlighting this area for some time.
At most, this price area should bring about a pause or the start of a short-term pullback with risk down to the uptrend line (off the March low at 13400).
If we continue to see weakness in large cap tech stocks, then investors should look for a stronger correction to take place this summer. I will try to provide an update with key price support levels should this occur.
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