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Nasdaq 100 posts a technically negative close

Following on from the previous update, noting the outside day reversals in the S+P 500 and the Nasdaq 100, here is some more detail on that Nasdaq close. So, like the S+P, the Nasdaq 100 also reopened at a record opening level on Friday, at 18,312, above the close on Thursday. The index then rose immediately to set a new all time record high,  at 18,416. That was covered here at the time. However, the subsequent slide that followed later saw the Nasdaq drop to below 18k at one point. The close was above the 17,995 low, but not by very much. The Nasdaq 100 closed on Friday, at 18,018 which was 279 points below the close on Thursday, at 18,297. Like the S+P, it was an all engulfing daily bar on the charts too. This reversal, in tune with that on the S+P 500 could herald the top the run for the time being, but it is not always a reliable indicator. That said, when it was not alone and from record levels, it should command respect. The ultimate decision on what to do with that rests with you, but drawing your attention to these formations is the aim here. The Nasdaq 100 futures are right now pricing the reopening at just below 18k 

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