4 Day Week With Possible Sideway Movement #shorts #futurestrading
1The Nasdaq is currently forming the right shoulder of an inverse head and shoulders pattern. This formation could persist throughout the week, but the overall market direction will ultimately determine whether this pattern completes. Expect the Nasdaq to remain range-bound between 20,080 and 18,969.
The S&P 500 isn't far behind the Nasdaq, also in the process of forming its right shoulder. The price action here suggests a well-defined sideways movement, with the index likely to fluctuate within a range of 5,718 to 5,633.
Finally, the Dollar Index found support at 100.653 and has since rallied to 102. If this bullish momentum continues into next week, it could trigger a pullback in the broader market.
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