Nas100- Bulls should be very careful (2k P drop could be next)

Since the low at 14k at the end of October, NAS100 has risen strongly, reaching a high at 18k.
More importantly, this translates into a 30% increase, which is substantial within such a short time frame.
Upon closer examination of this upward movement, we observe that it is contained within a rising wedge, which typically signals a reversal. Additionally, Friday's candle formed a bearish engulfing pattern, and yesterday we witnessed a break of the rising trend line. If we consider the divergences on MACD and RSI, the overall picture is far from bullish.


In the short term, we notice the index resting on horizontal support, and a break here would provide the necessary confirmation of a temporary peak at 18k.

In this scenario, a decline to 17k is highly probable, but in my opinion, this decline will extend to 15800k support.

And, let's be honest, after a 30% increase, a 10% decline is not a tragedy; in fact, it is a normal market "adjustment."