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NAS 100 Tests Resistance

The Nasdaq 100 softened following a decrease in weekly US jobless claims. The index bounced off 15550 which used to be a supply zone from September’s peak.

A break above the last leg of sell-off at 16100 has prompted sellers to cover. 16450 is the next hurdle and its breach would put the December plunge behind and clear the path for the all-time high at 16760.

An overbought RSI temporarily holds the bullish drive back. The psychological level of 16000 would be a key support as buyers catch their breath.

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