
For the Nasdaq 100 the rising channel is playing as resistance with the lower channel band running parallel to the 50-day MA probably the best opportunity for support.

One other change was the MACD trigger 'sell' in the semiconductor index which could see the Nasdaq and Nasdaq 100 quickly follow suit. I would expect its 20-day MA to be tested Friday.

Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.