Intraday Market Thoughts Archives
Displaying results for week of Jun 07, 2026How we Obtained 28200 & 7280
How we got these figures on Nasda100 and SP500. On Monday, I posted a chart here showing the path to 28200 on Nasdaq100. The post was published when Nasdaq was at 28957. On Tuesday, Nasdaq recovered all the way to 29800 ahead of the NY open, before dropping 1600 pts to print a session low of 28200--not 28250 nor 28170 but 28200. Now, you must also ask "how did Nasdaq charted the path from 28957 to 28200?". On Tuesday, we posted this chart identifying that any upside will be limited at the right shoulder resistance of 29750. And that is exactly what it did (here's the chart again)
Nasdaq Bounce
We have seen how Nasdaq100 peaked at the 19% extension from its 200-day moving average, before tumbling 6%. The 19% pattern was referred to in this video. The market will likely hold above the 28000 support--underlined by the May 6 gap-- and capped by the 29700 resistance, highlighted by the May 26 Gap. More details to members of the WhatsApp Bdcst Group.
