Nasdaq(a 4-hour chart)
Wall Street edged higher hitting record highs on the back of Trump's promises to cut tax, to increase spending on infrastructure and healthcare industries.
NASDAQ opened higher and was able to escalate through 4865 to 4883. After refreshing the weekly high the price rolled back and returned to below 4865. The benchmark remained above the moving averages in the 4 hours chart. The 100 and 200 EMAs are neutral while the 50-EMA headed north crossing the 100-EMA upwards. The resistance is at 4900, the support comes in at 4865.
The MACD histogram grew which indicates buyers’ strength. The RSI indicator remains within overbought readings.
We do not rule out further extension towards 4900. A bounce from the overbought levels may cause it drop to 4835.