The Nasdaq indice is in a large sell-off as shown by the huge tank on the monthly timeframe. The monthly candle itself is ridiculously humongous and i wouldn't advise anyone to be taking any buy positions on this index. However, on the 4-Hour timeframe, the price seems to be moving in a downtrend too, with small corrections to the upside. The RSI indicator is heavily oversold, suggesting that a small correction could happen before the price plunges further into the abyss. A wise trader would not involve them self in any buying activity on this asset, but rather wait for the perfect time to sell.
@LoLBeach, @antoineb, Yeah. I actually trade breakouts so point noted. A forecast is just a prediction it does not prove anything. Even if the price goes up i wouldn't claim to be a wizard. No one can predict the markets. We just follow price action