The Nasdaq index, like its S&P 500 counterpart, is developing a bounce after forming a "bullish engulfing" at the minimums of the year.
The breakdown of the downtrend has taken place and now the near-term for Nasdaq will be determined. In case of growth, the resistance level is 14 400. In case of decline, the brokendown trend line may be a support if the "bears" try to seize the initiative.
This content is for informational purposes only and is not intended to be investing advice.
