I'd like to highlight that the Nasdaq has experienced a notable rebound from its December 2023 peak of 16,969 (with a recent low of 16,973) and appears to have undergone a decent corrective move lower. This raises the question of whether the correction is now complete.
In my assessment, it seems likely that the correction could be over. Nevertheless, it's always prudent to establish a viewpoint and a stop level (a point where a breach would challenge your perspective), particularly as we have earnings being reported. For me, that level is the 2021 peak at 16,765. As long as the Nasdaq remains above this level, I will maintain a longer-term bullish bias.
#nasdaq #stocks #earnings #lovecharts #technicalanalysis
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In my assessment, it seems likely that the correction could be over. Nevertheless, it's always prudent to establish a viewpoint and a stop level (a point where a breach would challenge your perspective), particularly as we have earnings being reported. For me, that level is the 2021 peak at 16,765. As long as the Nasdaq remains above this level, I will maintain a longer-term bullish bias.
#nasdaq #stocks #earnings #lovecharts #technicalanalysis
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
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