NASDAQ has clearly done mass psychology and got everybody at the wrong side of the market making people think it is going to continue long.
But the pattern it formed was a rising wedge pattern which was clearly a reversal in trend.
Now price has formed a bear flag pattern hence looking to enter short
Last Close : 10854.8
For the week 13-17 July 2020
Any pull back near 10661 will be bought into.
Targets for bulls i have marked in the chart.
Below 10538... Bears will be in control
Will review this again in the next week.
Like... Share.. Follow... Stay tuned.
BASDAQ is at a critical point. Its facing strong resistance at 11000-11050. If that is crossed it will show a good break out. If it doesnot work in that way we might se Basdaq falling back to 7000 in the form of arc. And this will guide all the markets worldwide. Lets see how it works.
Nas100 has broken the all time high, and now currently in consolidation, If this bad boy comes back to the region then the probability is that its gonna shoot up again. Keep your eyes on this one too!!
We are here to make money and not be right. So always follow market to make money, not gut feelings.
I made this video with my market analysis for the last 3 major recessions. Please check for the video only for your insight as to how this market can move and you can really see how institutional buying is now happening in NasDAQ
