Nasdaq 100 overbought? Here’s what history says about the current rally

Ming Jong Tey
3 min readJun 26, 2024

Market Discussion

Watch the free-preview video below extracted from the WLGC session before the market opens on 25 Jun 2024 to find out the following:

  • What it means for the Nasdaq 100 to be in an extremely overbought condition and how to identify these levels.
  • How the current Nasdaq 100 rally compare to previous rallies in terms of momentum, volume, and duration?
  • Key indicators that signal potential pullbacks or reversals in the market, and what traders should look out for.
  • What historical patterns can traders look for to anticipate the next move in the Nasdaq 100.
  • And a lot more…

Market Environment

The bullish vs. bearish setup is 266 to 137 from the screenshot of my stock screener below.

Wyckoff method stock screener

Heavy profit-taking was spotted on 20 Jun 2024 in Nasdaq 100, especially the semiconductor industry group SMH as posted last week in Substack Note…

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Ming Jong Tey

I am a Wyckoff trader who practice kaizen in trading. Get Weekly Market Outlook & Best Trading Advice straight to your inbox: https://www.tradeprecise.com/