Nasdaq 100

The Nasdaq 100 - daily momentum crossed over to the sell side This after a 78.6% retracement in wave 2. Wave 2 is a corrective rally in 3 waves inside a pink channel. The larger pattern is of a head and shoulders top formation. What this means is that in wave 3 down prices will break the yellow neckline and head to 6166, however the pattern has implications that wave 3 can extend to 5710 in the coming weeks. The Nasdaq 100 closed down for the week and weekly momentum remains in sell mode.