Nasdaq - Month Long Trendline
When this trendline is broken this move is over.
October 12th and 8% later - the up moves are more violent.
I have theory why the down moves are so slow compared tot the moves up - when we reach two and three times standard deviations the algos start buying.
They get stopped out - but they just buy when we reach these levels, over and over.
Average Annual Nasdaq Returns:
2021:18.21 % YTD
2020: 43.64%
2019: 35.23%
2018: -3.88
2017: 28.24%
2016: 7.50%
2015: 5.73%
2014: 13.40%
2013: 38.23%
2012: 15.91%
Comment:
Support Broken - Not likely that today is green.
Comment:
While this was the trendline - this market did not need it.
While there was a trade below the trendline - once it came back back through it my personal expectation was they would return to yesterdays POC. Which they did and then some - ATHs to finish the month.
While there was a trade below the trendline - once it came back back through it my personal expectation was they would return to yesterdays POC. Which they did and then some - ATHs to finish the month.
Come on Amazon you can do it!
Will announce when support is broken - right now its holding.