Nasdaq 100

The Nasdaq 100 rallied significantly towards the 6700 level, an area that has been both support and resistance. If we can break above that level, then the market will go looking towards the 6800 level, the 6900 level, and then eventually the 7000 handle. When I look at this chart, it looks as if we are trying to form some type of “W pattern.” The 6300 level begins a significant amount of support down to the 6200 level, which being broken down below with send this market much lower, perhaps sending this market into a bit of a tailspin. The market should continue to find buyers on dips, especially if we can avoid some type of trade war which will directly affect tech stocks.