without_worries

Nasdaq 100 to 17000

Long
NASDAQ:NDX   Nasdaq 100 Index
On the above 3-day chart price action has corrected 33% since late December. A number of reasons now exist to be bullish , including:

1) The ‘incredible buy’ signal has printed. Look left.

2) The buy signal is coming in at 81% probability. The previous were 75%, 72@, & 72% percent, respectively. Look at the strength of if a 75% recovery, what do you think a 81% will be like? This can only be the result of a massive short squeeze, in my opinion.

3) Price action has just printed a ‘double bottom’ (orange line) on past support / resistance - look left!

4) Most recently price action has broken out of a bullish falling wedge formation with back test confirmation, see below.

Is it possible price action falls further? For sure.

Is it probable? No.

Good luck!

Ww


A little closer
Comment: What was the news saying days before the previous ‘incredible buy’ signal triggered?

February 2016

“Why the Nasdaq is on the verge of a bear market”

"It's a risk-off environment -- when the focus is on hopes and dreams, it's very easy to invest in tech companies that don't have current earnings. But when the environment changes, they get hurt," said David Kelly, chief global strategist at JPMorgan Funds.

JPMorgan no less!!

source: https://money.cnn.com/2016/02/09/investi...



December 2018

“Nasdaq Is on the Brink of a Bear Market”

“Spiraling losses in tech shares have pushed the Nasdaq Composite Index to the precipice of becoming the first major U.S. stock gauge to enter a bear market since 2009.”

source: https://www.bloomberg.com/news/articles/...



March 2020 - Well Plandemic…


Today -

“S&P 500, Nasdaq 100 Drive in to 'Bear Market' Territory Ahead of the Fed”

“FED to crash stock market with rising interest rates”

What a load of hokum.
Comment: A impressive bullish divergence building up on the daily chart as price action approaches the 200-week simple moving average.


You've got to go all the way back to 2008 to see this bullish divergence.

What is interesting between now and then is the majority are convinced this will be a bull trap.

Trade active
Comment: Did you see the 'Dragonfly DOJI' candle the 10-day chart that just printed? If you're in any doubt which way this market is about to go this one candle will remove all concerns.


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