The month of March starts with the bullish momentum from the previous month Feb 2024.
February closed with strength while creating a new ATH which I expect March to breach with ease.
I will like to note: Monthly candle started on Friday March 1.2024
This is only of importance for the next sessions of intraday.
Weekly candle has not closed yet. I will add...
That's of course the million dollar question and on this post is based on a fractal analysis with the 1998 - 2000 sequence.
As you see today Nasdaq is currently trading within a Channel Up up and down the 1D MA50 (blue trend-line) similar to what it did in 1999. Both Channels formed after a very aggressive rise, which took place after a lengthy yearly period of...
No volume yet, but a bounce on 4ds is a good sign as it enters the tech index on the 22nd of march. Keep it on the watchlist for a break of 20c. Once broken should start a new uptrend.
Stop loss 15c in entry.
NAS100 bounced from the top resistance, signaling a downward movement for the coming days.
In my opinion the bearish reversal will not hold on for long, most likely we will reject the lower trend line and shoot for new ATH's after that.
The main support target for the current reversal are either the support at $12.200 or the lower pink trend line. Since the...
Facebook has been trading within a 1W Channel Up (RSI = 69.832, MACD = 8.020, ADX = 41.061, Highs/Lows = 15.2786) since early February 2019. Right now the price is only a fraction below the pattern's Higher High trend line which is typically an early bearish signal.
On top of that both the MACD and RSI indicators on the 1D chart have reached their respective...
NDX has been trading within a Channel Up since July (1W RSi = 64.749, MACD = 236.300, Highs/Lows = 208.4773). Last week that pattern touched the Higher High trend line giving the first Sell Signal. The 1D RSI is on a bearish divergence similar to the late July Higher High.
Technically the index must touch at least the 1D MA50 before it resumes the bullish trend,...
