NASDAQ Huge Bearish Divergence. Can it cause a drop to 24500?NASDAQ 100 IndexNASDAQ_DLY:NDXTradingShotNasdaq (NDX) is on a pull-back on its 2M RSI following May's rejection on its long-term Lower Highs trend-line. The dominant pattern for the market has been a Channel Up since the 2008 U.S. Housing Crisis bottom and every time this RSI Lower Highs trend-line displayed such a Bearish Divergence (red ellipse), the index corrected to at least its 1W MA100 (black trend-line). Notice also that (with the exception of 2021) every such correction took place within the 0.618 - 0.786 Channel Fibonacci Zone. The most optimal Buy Zone has historically been the 0.382 - 0.236 Fibonacci Zone. As a result, it is likely to see Nasdaq pull-back for the rest of the year towards that Zone and the 1W MA100, which is trading in its middle. Target contact can be made around 24500. If the 2M RSI enters its Buy Zone however, before that target is met, then the market becomes a long-term buy opportunity again regardless of the price. --- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** --- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇