US 100
Long

NASDAQ This rally isn't over yet.

434
Three weeks ago (September 09, see chart below) we gave a very timely buy signal on Nasdaq (NDX), just after it touched its 1D MA200 (orange trend-line):

NASDAQ Is an August Low re-test inevitable?


As you can see, the index started a relentless rally, breaking the August 22 High, and the Lower Highs trend-line in the process. We don't expect that Leg to be over yet. Based on the two previous Bullish Legs of the 2-year Channel Up, they first touched the Inner Higher Highs trend-line and then pulled back to the 1D MA50 (blue trend-line).

As a result, we expect a continuation of the upside with a short-term Target around 21000 and then after mid to end of October, pull-back towards the 1D MA50 going into the U.S. elections.

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