TraderEye Market View: The Nasdaq draws us a weekly harmonic pattern

Wednesday, July 17, 2024

The Nasdaq draws us a weekly harmonic pattern - FollowUp

Attention is required - the NASDAQ 100 develops a reversal pattern.

The American stock index of technology stocks, the Nasdaq 100, continues to strengthen a possible significant reversal level while creating a bearish Japanese pattern of the Evening Star type, this at the reversal point of an AB=CD type harmonic swear pattern. Stock indices tend to rise, but at these levels attention and risk reduction is required.

Attached is a weekly graph of the index indicating the patterns described above:

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