NDX Nasdaq 100 Daily Chart Matches 2001 Highs Rising Wedge Overbot Negative Divergence

NDX reaches the highs of 2001 about eleven years ago. Keystone pointed out the XLK, technology sector, a few days back, so no surprise that the top tech companies have propelled the NDX to the multi-year high. Note the various techanical analysis chart patterns that have played out, pink and green channels, the orange inverted H&S, the teal H&S, and all the various positive and negative divergences that forecasted the bottoms and tops, respectively.

Today's price helps form that purple rising wedge which is bearish. The negative divergence should create a spank down now but the green lines over the last four months show a desire to make another matching high after a pull back, thus, the projection is shown by the black line, price is topping now, so sideways to sideways down moving forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.