Nasdaq - 4 Hourly

The Nasdaq ended H1 with a solid day on Friday with the resumption of the uptrend going into July.

The Nasdaq finished the first half of the year with a solid gain, this was on the back of lower than expect PCE data. Markets will likely be muted today as there is a US bank holiday on Tuesday 4th July. Looking at the chart, the Nasdaq has minor resistance at 15,250. A break above here will take the index to 15,350. A move lower would be more favourable to entering longs as support sits on the blue trendline (14,950/15,000). This could provide a better risk/reward trade. RSI currently reads 69.2 on the 4 hourly suggesting a near-overbought condition for the index.