first six months of the year has been bad for nasdaq. it has made more than 30% correction after coronavirus boom.
this series of lower low and lower high has made falling wedge pattern
in this downward correction because fed QT beginners investor made loss while big investor were waiting from sideline for 30% correction.
new quarter and new half of the year and...
The triangle that I included in the previous analysis (contraction triangle) was replaced by a neutral reverse triangle, which was more logical because the post-pattern movement of a contraction triangle should have been a sharp drop, which is really unlikely to happen here. This neutral triangle is weaker and is more suitable for forming the last branch of the correction.
Assuming I am right and the tech sell off in US stocks are not over yet ,then we can expect more selling ahead. The price action is likely to revisit the support level at 10,325 level.
From there, I expect a nice breakout from this nice descending wedge pattern which is a bullish rally back to the 15209 level , which caused the breakdown in March this year....
The Nasdaq to S&P ratio is testing for the 2nd month in a row its 1M MA50 (blue trend-line), which has been the Support for the past 15 years (hasn't closed a month below it since May 2007). This shows how strongly the tech sector has been outperforming the S&P500 index. This is the first time that the 1M MA50 is being tested on consecutive months since July...
The Nasdaq index completes a diametric well, and is probably building an X-wave to enter another correction.
At the monthly time, the two Ichimoko averages should intersect at the end of each other to say that the market correction is completely over.
Nasdaq still remains in a down trend, and as see there is few rallies of buyers on certain levels.
We expect to take sell opportunities at levels like 12206.20, very strong resistance, if levels get violated by buyers we sell at 12519.88
The nasdaq is in a large wave C in an ABC zig zag pattern
Why 7700-7800 is the reversal level:
-wave A of the zigzag is a leading diagonal, signalling downside >1:1 ratio for wave A:wave C
-the 1:1.618 ratio has no support
-the 1:2.618 ratio has support at 7700-7800
-this level coincides with a strong monthly support line as shown below
Investing isn't always that easy, heh?
Especially in Bear Markets, the market circumstances seem to trick one into thinking, that the next bull run will happen soon.
The Bull is climbing up the stairway and it takes a while, whereas the bear jumps out of the window.
Looking at YTD 32.88% decline as of 27.06.2022 in the US TECH 100 is one of the worst Q1 and Q2...
Hey guys, it's been 14 years since the last true end of market cycle crash(though I could argue 2016 was a crash of sorts). Taking a look at the previous 2 market cycles leading up to the 2000 and 2008 crashes, you can see the logarithmic trendline highlighting the euphoria phase of the stock market prior to the subsequent crashes. All in all, there is little to...
Just playing with this idea. I know the narrative is that we can only go down from here, but I could see this last falling wedge play out to one last epic bull trap before a continued decline. I would love to hear anyone's thoughts on this. .
Growth stocks getting hammered as of late. NDQ following bearish channel. Where is the bottom? Who knows but we can guess according possible confluence areas.
Downside targets
11,0964.00ish
10,650.00ish
9,400.00ish
** $8200.00ish
Upside?
13k
14k
The Nasdaq 100 index NDX confirmed an inverted head & shoulders pattern breakout on the hourly timeframe to support a short term upward correction that may test 13,100 supply area as a minimum target within the broader downward trend.
Nasdaq 100 climbed 320.53 points or 2.62 percent on Tuesday to settle at 12,564.11, just a few points off the day's high.
Dec-2021 high of NDQ/DJI coincides with that tech bubble top of 2000! Can we expect another 10% correction to the ratio in the coming months towards the regression base line?
Scrapped the old count and onto the next most probable count. We are still completing the A Wave of Primary degree within a Cycle wave 4. This A wave has developed into an expanding triangle and is within a 5th wave of E, hence closing up to completion. If this is an ABC correction B wave will make new all time highs. This is because the closest alternative to an...
Us100 index market is going to fall a little more than now for the following days ..
The market was well down for a few days and according to my analysis the market will continue to go down until the price zone of 10650 to 10300.
And there we can expect a trend reversal and go up or either a breakout and continue down!
TVC
