The Nasdaq 100 retreats as solid economic recovery favors value stocks.
Last week’s bounce off the 20-day moving average has propelled the index to an all- time high at 15185.
An overbought RSI has restrained the bullish fever. Now it has dropped down to the neutral zone, and price action is seeking support.
Buying interest could be found in the demand area between the 30-day moving average (14870) and the psychological level of 15000. A bullish breakout may stir up momentum and send the index to 15300.
