NASDAQ: Triple Top to trigger the next selling wave?NASDAQ 100 IndexNASDAQ_DLY:NDXInvestingScopeNasdaq is almost overbought on its 1D technical outlook (RSI = 68.436, MACD = 231.130, ADX = 38.278) and is approaching The R1 level of its ATH. If hit, it will be the 3rd time since October 29th to do so and we will have a Triple Top event. The last test rejected the price to the LL trendline and essentially confirmed the Bear Cycle as it crossed under the 1W MA50 for the first time in almost 1 year. If the R1 holds the Triple Top will also materialize the 1D Death Cross, which has so far been invalidated by the current 3 week rally. Consequently unless the R1 breaks, we expect Nasdaq to initiate the next bearish wave of the Cycle, this time targeting the 1W MA100 and the 1.5-1.618 Fibonacci Zone (TP = 22,500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##