This is a long-term trendline on the NASDAQ log chart (1M). It seems like we've finally reached a decisive point in the ongoing Fed vs Inflation saga. It's going to be interesting to see what happens next. If we break the trendline like we did in 2008, we're likely to take the elevator down and then spend the next few years catching up to the trendline again.
Bulls will want to see a bounce off this zone however and if we do, believe it or not, we're likely to continue trending higher and go on another bull run until the next crisis hits.
All eyes on the charts!
Bulls will want to see a bounce off this zone however and if we do, believe it or not, we're likely to continue trending higher and go on another bull run until the next crisis hits.
All eyes on the charts!
Comment:
Knocking at the gates once again. Remember, this is on the monthly timeframe, so this battle could stretch well into 2023. Be ready for a choppy few months ahead. Also, Cash is King.