Nasdaq100 (NQ) Weekly MACD Trying to Negatively Cross

The Nasdaq100 (NQ) sharply reversed an intraday dip yesterday, forming a daily Hammer just above the psychologically key 15k whole figure level. Significantly, although NQ could nudge higher this week towards upchannel resistance (on the weekly chart), NQ is incredibly overbought on a monthly chart, where yesterday’s brief break below the ascending wedge support (on the daily chart) dramatically increases the odds of a retest of yesterday’s low in the next few days, and a test of the July low in the next week…