As we previously indicated, the Nasdaq can succeed in stabilizing at the positive zone because it broke over the heavy barrier at 16500 and set a new all-time high.
Therefore, as long as trades are above 16500, the trend will continue; however, it appears to be correcting to 16500 before rising once more. If, however, it can maintain below 16500, it will decline to reach 16000 and 15770.
pivot point: 16890 Price of support: 16560, 16190, and 16000 Price of Resistance: 17055, 17190, and 17300