Hi All,
As mentioned in my last post on the nasdaq I mentioned two levels the 9000 level at the top of the rising wedge and the potential of a 9700 extension which is what we got before turning bearish. I am expecting the 8000 level to hold, I believe big buying from central banks will arrive there because that will be the -20% level which needs to be protected if we close below it is officially a bear market and reversal. I expect a deadcat bounce to 9000 level (top of wedge) then continue down for next extensions
As mentioned in my last post on the nasdaq I mentioned two levels the 9000 level at the top of the rising wedge and the potential of a 9700 extension which is what we got before turning bearish. I am expecting the 8000 level to hold, I believe big buying from central banks will arrive there because that will be the -20% level which needs to be protected if we close below it is officially a bear market and reversal. I expect a deadcat bounce to 9000 level (top of wedge) then continue down for next extensions
