Nasdaq-100 index Wave Analysis 8 January 2024

– Nasdaq-100 index reversed from support level 16170.00

– Likely to rise to resistance level 16930.00

Nasdaq-100 index recently reversed up from the pivotal support level 16170.00 (former double top from the end of November) intersecting with the 38.2% Fibonacci correction of the upward impulse from November.

The upward reversal from the support level 16170.00 stopped the previous short-term correction 2.

Given the predominant daily uptrend, Nasdaq-100 index can be expected to rise further to the next resistance level 16930.00 (previous monthly top from December).