Nasdaq 100: Tech Stocks Resilient Despite Oil Volatility Spike

The short-term range is 22795.82 to 24519.51. If heavy selling begins and 24019.99 fails as support, then our first 50% target will be 23657.67. If there is a total collapse due to a war escalation, then we could see gains wiped out down to a 50% level at 22604.88, a 50-day moving average at 22587.73 and a 200-day moving average at 22523.00.

Don’t fight the trend and don’t try to pick a top, but if you see a dramatic closing price reversal top then consider taking profits.

More Information in our Economic Calendar.