Source: PaxForex Premium Analytics Portal, Technical Insight

The Dow Jones and S&P 500 American stock indices dropped in Friday trading, while the Nasdaq gained, but showed its biggest weekly decline since the week ended October 30. The Dow Jones was down 1.8% last week. However, the indicators were up last month. The Dow Jones rose 3.2% in February. The unexpected acceleration in the sell-off in U.S. Treasuries on Thursday caused their yields to spike, sending the stock market and especially tech stocks lower.

Nasdaq 100, H4 

Pivot: 13000.00

Analysis:

Provided that the index is traded below 13115.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 13000.00
• Take Profit 1: 12765.00
• Take Profit 2: 12525.00

Alternative scenario: 

In case of breakout of the level 13115.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 13115.00
• Take Profit 1: 13355.00
• Take Profit 2: 13600.00

Comment:

RSI indicates a downtrend during the day.

Key levels:

Nasdaq 100, D1

Pivot: 12960.00

Analysis:

While the price is above 12755.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 12960.00
• Take Profit 1: 13440.00
• Take Profit 2: 13880.00

Alternative scenario:

If the level 12755.00 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 12755.00
• Take Profit 1: 12200.00
• Take Profit 2: 11700.00

Comment:

RSI is bullish and indicates further increase.

Key levels: