As you can see on my chart the NAS is in a clear up trend. Yes, it's been choppy the last few months and has been difficult to trade. It's holding it's newest lower support line (nothing magical about that line just a frame of reference). We would still be in a confirmed up trend if it were to drop down to the longer term trend that started around the end of April 2019. It would be a big and painful giveback if it were to drop to that blue line area but, it would not negate our current bullish trend. Some might even say it would be healthy.
I'm simply publishing this because I have had doubts about weather we are ready for a major correction or not. My opinion is not yet anyway. This up trend is fully intact at least or until it drops below that blue support area. If it were to do that, I'd be very bearish. Just thoughts and keeping an open mind about possible outcomes.
I welcome any feedback on my analysis.
I'm simply publishing this because I have had doubts about weather we are ready for a major correction or not. My opinion is not yet anyway. This up trend is fully intact at least or until it drops below that blue support area. If it were to do that, I'd be very bearish. Just thoughts and keeping an open mind about possible outcomes.
I welcome any feedback on my analysis.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.