NASDAQ 100
The last major bottom on monthly chart was in October 2008.
Since then Nasdaq has been moving higher with
higher top and higher bottom formation.
Every correction has made a higher bottom.
Even the last correction of March 2020 was just a minor correction
in overall up trend.
Once again a peak of 13879 has been crossed.
The month is not yet complete but current situation is of breakout above 13879.
The high till now is 14045.
If sustains above 14045 then expect rise to 14901 and 16559 which are fibonnaci retracement of the fall fron 13879 to 12208.
The indicators in trading form of observation does help.
On the monthly chart, RSI >55 has been an up trend and reversal can be seen whenever RSI <45.
The same has not yet been witnessed as correction of RSI <55 and > 45 can be looked at as opportunity for accumulation whenever the opportunity arises.
Hold long and ride the run with ETF.
Accumulate whenever normal trading RSI on daily chart hits oversold.
Accumulate via ETF route whenever such opportunity arises.
The last major bottom on monthly chart was in October 2008.
Since then Nasdaq has been moving higher with
higher top and higher bottom formation.
Every correction has made a higher bottom.
Even the last correction of March 2020 was just a minor correction
in overall up trend.
Once again a peak of 13879 has been crossed.
The month is not yet complete but current situation is of breakout above 13879.
The high till now is 14045.
If sustains above 14045 then expect rise to 14901 and 16559 which are fibonnaci retracement of the fall fron 13879 to 12208.
The indicators in trading form of observation does help.
On the monthly chart, RSI >55 has been an up trend and reversal can be seen whenever RSI <45.
The same has not yet been witnessed as correction of RSI <55 and > 45 can be looked at as opportunity for accumulation whenever the opportunity arises.
Hold long and ride the run with ETF.
Accumulate whenever normal trading RSI on daily chart hits oversold.
Accumulate via ETF route whenever such opportunity arises.