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Nasdaq Gap & SOX

by Ashraf Laidi

Oct 8, 2024 18:23

Nasdaq100 faces next resistance at 20080, followed by 20266, which represent the bottom and top of the Jul 17 gap respectively. One other frame of reference is the Head & Shoulder formation shown on the SOX (ETF for semiconductors), whose 91% correlation with Nasdaq100, means high scrutiny is placed on the 5340/46 level of SOX.

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Nasdaq Gap & SOX - Ndx Sox Oct 8 (Chart 1)

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