Adam Smith Associates - Nasdaq 100 And Dollar Index Technical Analysis


Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article are purely of the author - Mr Rohit Srivastava - a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd

NASDAQ 100
The RSI moved up to 85 for the Nasdaq 100 as the RSI rises one way with price. There should be a knee jerk reaction sometime to release the overbought reading before the move goes on



Dollar Index
The Dollar index has formed a head and shoulders top like formation. The right shoulder is a wave II bounce back that ended with an inverted hammer candle pattern. Wave II is an expanded flat wave pattern. Wave III down should test the neckline at 99.10 and on a close below it we should head to the next swing level of 96.



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