Hi everyone, we broke last week the uptrend channel as well as moved below some important moving averages. I believe we are now in for a small correction before the market can continue upwards.
I have highlighted some of the possible U-turn areas with Fibonacci extensions. I have also highlighted a potential new downtrend channel.
The depth depends on the news! (oil price, etd data) good weekend!
ET-Invest
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@uhljarrobert, Economic data will always have an impact on Nasdaq, but you should not believe that it is solely determined by new data released. Good weekend to you too:)