The Nasdaq-100 Rebounds After a Brutal January: What Does the Chart Say?

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The Nasdaq-100 has rebounded following a sharp drop. It’s a good time to consider where things stand with the tech-heavy index.

First, Wednesday’s close represented almost exactly a 50 percent retracement of the decline from December 28 through January 24.

Second, consider that it halted at the January 10 low. Will this old support become new resistance?

Next, the level was also near the …

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Nasdaq-100, daily chart with selected patterns and indicators, courtesy of TradingView.
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