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Some technical levels for you on the Nasdaq 100

As promised earlier today, here is a brief look at some potential technical levels on the Nasdaq 100, with that index very much in focus for the markets, both before and after the close tonight. The index reached a record high on March 21, at 18,464. The low from that high was seen last Friday, at 16,973. That is a fall of 1,491 points. So, if the current rebound is a corrective wave 2 move, then we can plot some potential technical levels at which it might reach and subsequently stall. The first is the 38.2% correction and that is at 17,542. The high seen yesterday stopped short of that, at 17,513. However, given where the futures price is now this morning, it could be reached in live trading today. It is important to note, that all the levels noted here are in respect of the live index price and not the futures price. So, if 17,542 does not cap the topside later on, the next level is 50% and that comes into play at 17,718. Beyond that lies the 61.8% correction level and that is in place at 17,894. These levels are not definitive, but merely relayed to you as a guide for your trading. The index is currently priced to reopen at around 17,535

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