TLDR;
This video provides a daily review of the NASDAQ 100 (US Tech 100 on Trade Nation) for March 17, 2026. It covers the day's trading range, key levels, and price action, noting a gap up at the open, tests of the previous day's high, and a prolonged period of narrow trading. The analysis suggests a neutral day overall, with the market closely tied to the day's opening price, but with bulls maintaining a slight advantage by closing above the previous day's close. The video also identifies key levels like 25,000 and discusses the potential for a breakout later in the week.
- Market gapped up from the previous day's close but faced resistance.
- Trading remained close to the day's opening price for most of the session.
- Bulls retain a slight advantage, eyeing the 25,000 level for a potential breakout.
Intro [0:08]
The video starts with an introduction to the daily review of the NASDAQ 100, traded as US Tech 100 on Trade Nation, for Tuesday, March 17, 2026. The presenter references the previous evening's discussion, noting that the market tested the high of the previous day (Friday) before moving lower. The market experienced a sell-off after a vacuum test at 3:00 PM Eastern time, which continued into the Asian session.
Today's Trading Action [1:42]
The market experienced a gap up from the previous day's close. The price quickly broke through the high of yesterday, which was also the high of Friday, achieving a measured move. However, this high attracted no buyers, and the market approached the 25,000 level. An initial strong bar lacked follow-through buying, leading to a test down to the day's opening price (the blue line). A second leg up occurred before bears took control, pushing the price back down to and slightly below the day's opening.
Nested Wedge and Trading Range [3:18]
Around bars 31 and 32, a nested wedge pattern formed, presenting a buy signal similar to one seen the previous day. This led to a slight upward movement before the market entered a prolonged period of narrow trading range price action. Bar 53 is noted as important because it broke out to the top of the range after a series of inside bars, but the follow-through was minimal.
End of Day and Overall Assessment [4:18]
The trading day concluded with small price movements, and the market officially closed at 4:00 PM Eastern time. The day was characterized as less interesting than the previous day but shared similarities with Monday's trading pattern. The upward movement was limited to a maximum of 50 points, suggesting that selling at the top might have been a more effective strategy. Overall, the day is considered neutral, with the price closely hovering around the day's opening price.
Key Levels and Bullish Perspective [5:54]
Despite the neutral sentiment, the presenter notes that closing above the previous day's close is a win for the bulls. The market is approximately 125 points above yesterday's close, indicating that bulls are targeting the 25,000 level and beyond. Key levels mentioned include the open of the week (green line) and the low of yesterday (black line).
Lunch Bar Analysis [6:38]
The presenter identifies and marks the "launch bar," which covers much of the day's range. Trading within this narrow bar was difficult, with price moving from the top to the bottom. Bears attempted to push the price below the lower pink line but were unsuccessful, leading to a retest of the high.
Daily Chart and Potential Breakout [8:30]
Looking at the daily chart, the market is back in the middle of a highly contested area. A breakout towards 25,000 is possible later in the week. While previous breakouts have been sold, bulls are aiming for higher levels, and it remains to be seen if they will succeed this week.
