Nasdaq 100 Forecast: Bearish Gartley Pattern Hints at Downward Pressure Nasdaq 100 index Technical Forecast: BEARISH The Nasdaq 100 index has likely formed a bearish Gartley pattern - a classic harmonic configuration The MACD indicator formed a bearish crossover and pierced below the neutral midpoint, pointing to mounting downward pressure Chart by TradingView The Nasdaq 100 index has entered a consolidative mode since mid-April, falling more than 6% from its all-time high. The index formed a bearish Gartley pattern, as highlighted in the chart above, suggesting that a deeper pullback is likely. The Gartley pattern is a classic harmonic chart pattern, based on Fibonacci numbers and ratios. A bearish one starts with a downtrend from point ‘X’ to point ‘A’ with a price reversal at point ‘A’. The ‘XA’ leg is followed by a bearish ‘AB=CD’ pattern.