The Nasdaq broke resistance and is now pulling back to the yearly support, which was resistance.

The Nasdaq broke to the upside reaching highs of 13,700. The index is now pulling back towards resistance now support at 12,945. Unless the index breaks below this level then the retracement could provide a good buying opportunity. RSI currently reads 51.8 suggesting a neutral stance with MACD negative. A break below 12,945 could take the index towards 12,820. Towards the upside, tough resistance sits at 13,750 which will likely not be broken in the short term given the outlook of the global economy. The current general market looks to have Stabilised.