NASDAQ 100 (US100) – Week 17 – Eyes on a new record top

In the past day, Tesla (TSLA), one of the most traded stocks, reported a record quarterly profit as it released its earnings after the closing bell. Apple (AAPL) and Facebook (FB) are scheduled to report today, followed by Amazon (AMZN) on Thursday.
In our previous analysis, we correctly forecasted the price to break the 14.000 psychological level.
For this week, we are expecting to break the top one more time before falling into a corrective phase that can reach the support or the liquidity pool area that we highlighted on the chart. A trendline breakout, followed by a consolidation, could put some pressure on the price as it can fall into even more bearish territory.
Another indication that the market is close to lose some of its bullish momentum is that our RSI Indicator is close to an overbought level.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move

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