NAS bottom may be in
NAS daily channel and 100 day MA holding. A bottom may potentially have formed.
Indicators have reset and support longs (RSI, Stoch, MACD). DMI is about to cross bull on daily TF.
This is a cleaner and larger TF view of idea previously posted yesterday using 4hr chart - much more detail in previous idea below:
NAS has now correct 8.5% - comparable to other pullbacks in the channel since September 2020.
snapshot
Indicators have reset and support longs (RSI, Stoch, MACD). DMI is about to cross bull on daily TF.
This is a cleaner and larger TF view of idea previously posted yesterday using 4hr chart - much more detail in previous idea below:
NAS has now correct 8.5% - comparable to other pullbacks in the channel since September 2020.
snapshot
Note
TL broke Friday and today currently on target for first close above 50MA (light blue) in almost a month Note
Very strong move off the bottom - is 16k (top of daily channel) possible? Note
16k hit - if it keeps going to the top of the daily channel could potentially reach 16,200
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.