I have provided two scenarios for the Nasdaq.
One is an immediate bullish case for a bounce off of a previous broken resistance level. I think this is on the optimistic side, and of course most people would prefer that type of stress free environment.
The second is for a breakdown to a lower previous control level. This is more pessimistic, and it's more difficult to predict because people will not be happy to hear their assets might be about to depreciate. Everybody shoots the messenger. Especially when they're right.
What do you think, and why? Am I missing any key elements on the chart?
One is an immediate bullish case for a bounce off of a previous broken resistance level. I think this is on the optimistic side, and of course most people would prefer that type of stress free environment.
The second is for a breakdown to a lower previous control level. This is more pessimistic, and it's more difficult to predict because people will not be happy to hear their assets might be about to depreciate. Everybody shoots the messenger. Especially when they're right.
What do you think, and why? Am I missing any key elements on the chart?