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NASDAQ Futures: Will Current Rally Continue, While Double-Top Completed?

Published 06/09/2020, 01:59 PM
Updated 07/09/2023, 06:31 AM
NQZ24
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Nasdaq 100 futures tested the 11-week high on June 8th, 2020 and completed the formation of double-top. A rally above this recent high has enhanced the risk many-fold for the investors, especially at the time when the Business Cycle Dating Committee of the National Bureau of Economic Research said the U.S. economy ended its longest expansion in the history in February 2020 and entered recession as a result of the coronavirus pandemic. I find this looks risky, while the sentiments look bullish.

Nasdaq 100 Futures Daily Chart

Nasdaq 100 Futures 4 Hr. Chart

Nasdaq 100 Futures 1 Hr. Chart


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