Chart of the Day - Wednesday, February 12, 2025

Patrick Dunuwila
February 12, 2025

Chart of the Day


🏆 Today's Chart of the Day was shared by Yuriy Matso (@YuriyMatso).
 

  • The Nasdaq 100 ($NQ_F) closed slightly higher today (+0.08%) despite falling more than -1.2% this morning. 
     
  • It still hasn't made an all-time high in 2025. It's coiled into a triangle pattern over the past two months, making lower highs and higher lows. This narrowing pattern suggests a large resolution is brewing. 
     
  • With today's bullish reversal, the Nasdaq is testing the upper bounds of the pattern, a two-month falling trendline. A breakout will be confirmed if the Nasdaq clears its January peak at 22,000.

 

The Takeaway: The Nasdaq closed slightly higher today after a bullish intraday reversal. It's testing the upper bounds of a two-month triangle pattern, and clearing 22,000 would confirm a breakout. 

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