The NAS100 has printed a new high record completely breaking out from its lower high trendline! 19,000-20,000 levels are probable year-end targets.

As a result my May 8 long trade plan exited in another profit:

https://www.finlogix.com/analysis/20240508/nas100-intraday-analysis-and-trading-plan-for-may-8-2024

An updated record of 4 wins and 4 losses.

Join me as I continue tracking the index’s next price movement.

The US awaits 1 more high impact economic release later this evening.

Re-assessing NAS100’s high timeframe candles:

Yearly Candle: Still a Green Body with a Longer Tail Wick since last check

Monthly Candle: Still a Green Body with a Larger Size since last check

Weekly Candle: Previous close is a Green Body with a Longer Head Wick current is also a Green Body with a Short Tail Wick

Daily Candle: Both previous and current are Green Body

NAS100’s 2024 yearly candle continues to seek higher prices. In a high price discovery mode.

Bottom is in for the year and chances are low to re-test it.

The complete breakout of its lower high trendline resistance which got backtested into a support is already a confirmed signal.

I’m not surprised to even see 19-20K levels in the coming weeks and months.

Potential pullbacks only add up to the long bid queued orders.

For now the indices markets including NAS100 enjoy surging after weaker CPI results last night.

I remain a buyer and the May month has completely bought back April’s sell-off.

With a pretty solid 4 week uptick so the plan is simply setting long orders on the potential intraday pullbacks.

Also, there’s a developing daily FVG right now and I like to capitalize it.

Big thanks to the higher low trendline down low that gave the NAS100’s bulls much needed lift.

And bigger thanks to the recent weaker US CPI figures!

All trade ideas I share are my own views and for my own trades only.

Copy trading and trading directly involve risks.