NDX: Bullish Continuation Signals Amid High Volume and Elevated RSI
$NASDAQ 100(NDX)$ : The heavy spikes in volume that have preceded immediate bullish continuation in the past have repeated, making today's price action unsurprising.
The pattern has historically lasted for a couple of days. The RSI is at 75, a level not seen since June 2024.
It is worth noting that the $Cboe Volatility Index(VIX)$ jumped by 4.2% while the indices also rallied. If bullish momentum continues tomorrow morning despite the VIX, I would pay attention to a potential rejection at $24,845.
A chart displaying the NDX (Nasdaq 100) daily price movements. Blue and green arrows point to upward price trends, with yellow ovals highlighting specific price levels. A green volume histogram and RSI (Relative Strength Index) line are visible at the bottom, showing market activity and momentum. A watermark reading "SmartReversals" is present.
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