Nasdaq has been selling off. Is this an economic collapse? Too early to say. Nasdaq has been flying high since the Coronavirus crash back in March of 2020. It's been long overdue for a steeper correction. I was shocked that it was able to keep climbing without a steeper correction in all of 2021. Nasdaq was overbought for the WHOLE year. So as long as the Nasdaq can hold upright at some key Support Levels, this may just be a healthy and long over-due correction. The first key Support Level to test is the bottom of this Support Zone. Let's see where it bottoms out at and then we can give an assessment. There are more key levels of Support even below this level. I don't want to jump the gun and panic but also don't want to be overly bullish. I'll update as things unfold.
I don’t mind this dip! It is needed for a rip that follows
Tradersweekly
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@Vibranium_Capital, I think so too. But for now it seems the price will continue lower.
relievedAntelo893
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Nice one!
kimstandgraph
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Great!
Tradersweekly
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Thanks for sharing. I think the downtrend will continue.
TraderFromTheNorth
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@Tradersweekly It definitely could continue down and that is a very real possibility. I’d like to see how the market reacts following the FED meeting next week before having a stronger opinion though.