Nasdaq is at a very critical level , if it pushes down then the t
he next support is at 13160 Level where if it tests the support m
ultiple times then it can be a good entry point .
If it continues to push down from 13160 then the next support wil
l be at 12400 level which can also be a great entry point.
My bias is towards 13160 level strong support and it will...
IXIC ran straight into resistance and was rejected throughout July.
Considering the price action, I would not be surprised if this forms some sort of double top, revisits the 13.5k region before we get a better idea on the next move.
If that does not hold, there is a good chance we see sub-13k.
Expecting price action similar to the Sept-Dec 2021 top...
although the zone of 13800-900 is important critical zone for #nasdaq
although, Nasdaq is in a low bank of its flag shaped correction,
but watching volume/price behaviours in other indexes, I expect this pullback will go deeper at least towards 50d moving average.
This chart of the Nasdaq Composite , has similar pattern to the S&P which tells the story of the overlapping composition in the indices especially within the Info Tech sector. Measured using anchors from late June to the highs made recently we appear to be trading just above the halfback and clearly above Fib 61.8 and 78.6 lines.
Blowoff top then end of the world?? Looks pretty similar to the dot com bubble i grew up in...hopefully, if is the case, everyone positions themselves and leaves on the way up! Best of luck everyone
Since 04/25/23 the Nasdaq Composite (IXIC) has been leading the way up.
Its gain from 04/25/23 to 07/19/23 was 22%.
The S&P 500 gain over that time was 12%.
The Dow Jones Industrial Average 5%.
Now IXIC is leading the way down. Note on the 07/19/23 peak the bearish divergence on both MACD and RSI. MACD also has a bearish lines cross, while RSI has moved...
Analysis of the US stock market
Fortunately, according to the analysis, 3.5% of the growth index has been achieved from 4%.
According to the status of the RSI indicator and the volume and candles, it is logical to save profit and exit the market for a new entry in a suitable position.
The first suitable point for re-entry is the previous entry range of the index...
American stock exchange
According to the previous analysis, the stock index was able to touch the ceiling of its 170-day ascending channel.
Currently, the current candle is being modified.
You can wait until the yellow line to enter again.
And if you are a risk taker, wait until the purple line.
Or enter 50% on the yellow line and the remaining 50% of the position...
Sadly but truth, a healthy corrections to 12417 - 12428 shall appear on NASDAQ:IXIC
I do some calculations based on internal & external Fibonacci Retracements and found a potential corrections up to 8%, kindly beware on your steps ahead.
Be greedy is good, only when we enter a bloody market.
-AJ-
what I see in weekly chart of #nasdaq composite is a finished bear making a double bottom at its floor and etc.
now it needs a strong rise towards13000.
now my finger is on trigger waiting for a strong week.
The Nasdaq Composite provides an excellent overview of the fractal nature of the market.
1- The double bottom pattern was completed on January 23
2- The 6-week flag pattern that ended on March 13
3- A smaller cup & handle (green one) were formed.
4- The failure of the small pattern also happened last week.
5- Now we can say that we are already in a new bull...
Price is too Overbought right now and below I'll try to convey my thoughts.
Nasdaq never extends more than 5-6% from its 21ema before a significant sell off .
The 21ema the white line
Let's start with Nasdaq rally from March 2020 lows unt Sept 2020
March 2022
August 2022
Feb 2023
June 2023
Also weekly candle is forming a hangman while...
Nasdaq analysis
Since December 28, 2022, when it touched the bottom of the ascending channel, it has continued its upward trend for 153 days with a relatively good slope of 24 degrees and has grown by 29%.
Regardless of the current candle, the limits of the index can be considered between the midline and the ceiling of the channel (12793 to 13647).
According to...
It doesn't get more simple than looking at this Monthly Chart going back over a decade. You can clearly see the incredible uptrend and the True Strength Index, although having shown a bearish divergence since Jan.2022, the TSI has barely broken the Centre line and is now about to turn back above. This New Bull Market should last through to the end of 2014. Just...
CURRENT MARKET TRENDS 🔄
1. 🎯 Selective Market Dynamics
The present market scenario remains highly selective. This has been a pattern, with a tendency for a rotational environment. Stocks that are currently underperforming or rebounding from their lowest points are leading the market for short durations. This is while tech-heavy indices like the Nasdaq...
Greetings,
A mirror to my tableau painted for Bitcoin,
I surmise that the Nasdaq is engaged in the theatrical rendition of a cycle degree fourth wave.
Historically,
these fourth waves are prone to a tactical withdrawal into the realm of the prior degree wave four territory.
In this distinct instance, the territory in question lurks in close proximity to the...
