Despite all the rules, the Nasdaq is now bouncing way too hard for a corrective leg. I developed a indicator for stocks during this two last years, it is very powerfull(normally adapted for 1 year charts), there is 5 parts, today I show you one for you too see what I mean about parabolic move. The blue line that you saw on my indicator is called "pressure", when it hits the resistance or support, there is always a reversal depending on the direction of the trend. As you can see pressure is very low and has a lot to go up before reaching high resistance pressure, that means we could see a parabolic move.
We can see also some similarities on the and on Bitcoin last year, when it dropped from 5 to 3k before going to 20k
There could be also a cross on the
The other parts of my indicator are also
However we can clearly see that this move is manipulated by the financial markets and institutions, nevertheless we could consider it as a tactical move of institutions to bait retail investor to invest in the parabolic move and take more power before the great crash. We can profit from that and get out before that because this thing can go to 9000.
The thing that bothers me is that I'm in touch with some institutions and they are not keen on investing now and took profits. We will see :)
However it is long term, for now a little move downwards is expected as pressure in the one year time frame will hit maximum resistance and its already in resistance level
Im a swiss trader professional, have two funds (private and public already full) trade on stocks professionally and crypto long term and a hobby for short term moves in crypto. You can follow me if you want to increase your portfolio on stocks as I have 90% accuracy and 78% on my all carrer. Im here for fun and make sure to read my comments on my stock ideas as I sometimes take profits earlier than expected.