NDX100 Consolidating now with risk towards top end of the Cloud. This consolidation comes after the NDX100 hit 6 of the 7 FIB level price targets! NDX100 is still bullish for now, but the big risk is in the NDXX index that excluding technology that is entering its 4rth month of a Cloud Chart bear market since price action is below the Cloud! Risky times!
The top end of the Cloud is a critical support zone for the NDX100 with downside risk towards the bottom end of the Cloud if the correction/consolidation extends to the downside! The NDX100 fighting for support at the top end of the front end of the Cloud and that is a potential rebound zone!
As for the NDXX price action needs to trade back above the Cloud Chart resistance zone to be bullish.
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