Nasdaq 100 struggling at a confluence of resistance.

I try not to post too much on the indexes, but with US equities hitting “stall speed” this week I wanted to know why.

In regards to the Nasdaq 100, you can see below we are at the 161% Fibonacci extension of the Sept – October move lower, and also the 127% extension of the July – August drop. Daily RSI is not overbought but it is divergent and leveling off which could signal a turn lower if we see price drop through the 8200 level.

Blake Morrow