The Nasdaq was in a 12 year uptrend since the month BUY signal at 1861 on the 1st of December 2009.
The uptrend has been BROKEN and a short signal was observed on the 1st of May 2022 at 13025 targeting an initial support on the Kijun (50% retracement) at 12115
If 12115 is broken to the downside, we will see the NASDAQ target the ichimoku SSSA and SSSB lines on the cloud formation below. The inability to bounce of the cloud will turn a pullback to a long term downtrend.
Long Term PULLBACK since 010522
Medium Term DOWNTREND since 170122
Short Term DOWNTREND since 110422
Pivot 14189
Short positions below 14189 for 12115 and 9458
Long positions above 14189 for 15063 and 17348
The uptrend has been BROKEN and a short signal was observed on the 1st of May 2022 at 13025 targeting an initial support on the Kijun (50% retracement) at 12115
If 12115 is broken to the downside, we will see the NASDAQ target the ichimoku SSSA and SSSB lines on the cloud formation below. The inability to bounce of the cloud will turn a pullback to a long term downtrend.
Long Term PULLBACK since 010522
Medium Term DOWNTREND since 170122
Short Term DOWNTREND since 110422
Pivot 14189
Short positions below 14189 for 12115 and 9458
Long positions above 14189 for 15063 and 17348
Quant Strategic Singapore