NASDAQ weekly technical analysis 16 to 20 may 2016

NASDAQ weekly technical analysis 16 to 20 may 2016 NASADQ this week closed at 4717. On weekly chart index trend is bearish and momentum is building on downside with every fall.     For next week, NASDAQ future outlook remain weak and NASDAQ is near May tgt of 4690. If breakdown below 4690 then expect next tgt of 4600 in upcoming weeks.   On upside 4830 is strong resistance and below it keep sell on rise view. For 2016, NASDAQ turned bearish and heading towards my tgts 4455 and 3900.

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Pramod Baviskar

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