I am a buyer when it goes to the bottom blue, holder in the green zone and sell when we get into the top blue. the red line has seen selling pressures in the past but the nasdaq is fighting to get and stay above that line. Set stop losses and go long accordingly.
Nasdaq recovered from its massive drop. so is the sale over? i think so. although it wont be a single ride to new highs. i expect a resistance at 13500 to 13700. it will then return back to the 13100 range before it makes it next move up. Choppiness expected.
Today nasdaq did the obvious and dived down below 12300. But the recovery has been good so far. 12680 has been the highest as of when I write this post. Is the Great Nasdaq Sale done?
I do not think so. Investors are still nervous. Recovery means the economy opening up. Investors with risk appetite will move their holdings to Infrastructre, Energy, Industrials....