The NASDAQ is currently trading at 29234.9900, representing a 1.62% increase from the previous close. Today's price action has been bullish, with the index reaching a day high of 29234.9900. The session sentiment remains positive, with buyers in control.
Key economic events releasing today that affect this asset: No major economic events are scheduled for release today.
Any central bank speakers or news catalysts scheduled today: No central bank speakers are scheduled to speak today.
Geopolitical headlines driving today's flow: Geopolitical tensions are relatively low, with no major headlines driving the market.
Correlation with today's USD index move: The USD index is trading relatively flat, with no significant impact on the NASDAQ.
Trend on 15M timeframe (today's session): The trend is bullish, with higher highs and higher lows.
Trend on 1H timeframe (today's session): The trend is also bullish, with the index trading above the 1H moving average.
Chart pattern visible in today's session (if any): A bullish flag pattern is visible on the 1H chart.
RSI reading on 1H and what it indicates right now: The RSI is at 62, indicating a slightly overbought condition.
MACD state on 1H (bullish/bearish): The MACD is bullish, with the signal line above the zero line.
Price position vs today's VWAP / session open: The price is trading above the VWAP and session open, indicating strength.
Support levels (each a real number strictly BELOW current price, within today's range):
Support 1: 29150.0000 — This level is support because it is a recent swing low and has been tested multiple times today.
Support 2: 29050.0000 — This level is support because it is a psychological round number and has been a area of buying interest in the past.Resistance levels (each a real number strictly ABOVE current price, within today's range):
Resistance 1: 29300.0000 — This level is resistance because it is a recent swing high and has been a area of selling interest in the past.
Resistance 2: 29350.0000 — This level is resistance because it is a psychological round number and has been a area of selling interest in the past.
Bullish intraday scenario:
Entry: 29200.0000
Target: 29300.0000
Stop Loss: 29150.0000Bearish intraday scenario:
Entry: 29150.0000
Target: 29050.0000
Stop Loss: 29200.0000If-then triggers for today's session:
If price breaks above 29300.0000, then consider buying with a target of 29350.0000.
If price breaks below 29150.0000, then consider selling with a target of 29050.0000.
Bullish, with a confidence percentage of 60%, valid for today's session only.
Recommended position size (% of account): 2%
Risk-reward ratio for this intraday setup: 1:1.5
Trading involves risk. This is educational, not financial advice.