The NASDAQ appears to be following Elliott Wave Theory, where it's currently situated in what's projected to be Wave 5 of Primary Degree. Within this wave, it's believed to be in Wave 3, which typically signifies a strong upward movement in prices we are seeing now.
This suggests that we may see a bit more upward momentum in the NASDAQ before a correction phase...
NASDAQ:NDX NDQ analysis combining long and short term There is log and short view the amount of downstream compression is limited and if the lower levels break then we get into pre covid zones which will be a long term analysis . So for now short and long term targets given below.
NASDAQ:NDX may try to create #wpattern or double bottom on daily / hourly time frames at important support zone of daily time frame, if it breaks below the support level, we can achieve the expected downside targets soon.
NASDAQ 100, never came below the ema of 233 since 2010, and came below 144 only 2 times after that, in 2018 and 2020 and gave good bounce back from there.
Now if you see it is making the same pattern around 144 ema as it did during a covid low in 2020.
It looks bullish from here, until and unless it again closes below 144 ema.
Just when we thought the momentum died off, Snap Chat's result triggers another round of down move. The bears are back on the saddle riding the NASDAQ down down down! I wouldn't be surprised if it touched around 9k in a few weeks.
I've been looking at the major US indexes (SPX, DJI & NDX), as well as some of the TOP Altcoins within the cryptocurrency market (Ethereum, Cardano, Solana, Polkador), they are all bearish right now on the major/weekly timeframe.
This week we saw mentions in the "news" about Bitcoin and the S&P 500 Index detaching... Sounds fishy.
Maybe detach over the weekend so...
#NDX
Main Trend seen completed in Nasdaq.
If the current downtrend is only Profit Booking then Yellow Wave (ABC) structure is possible.
If Nasdaq turns to Bear Market (If 2009-2021 Wave complete) then 1st Downtrend Wave may be like Red Wave (ABC).
I hope you can now see how NDX represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the...
I hope you can now see how NDX represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the...
I hope you can now see how NDX represents an excellent low risk profit entry setup allowing you to trade in the market. Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Thank You
Disclaimer: It should not be assumed...
