NASDAQ - The Darkest Hour Is Just Before The Dawn
That was quite a slaughter today, wasn't it? So I'll say it right away: this analysis is no joke.
I assume that today's sell-off heralded an imminent rally that will soon take us to new all-time highs. Because from a technical perspective, today we have only touched the 38.2% retracement of the upward movement between August 5 and August 22, 2024. Bearish doomsday scenarios look different.
We are now bullish in the medium term. We expect the NASDAQ to reach its next high of at least 21,500 points, and the 22,000 point mark is also a distinct possibility. We are placing the stop loss below a gap that is still open. The 50% retracement of the aforementioned upward movement is also located in this area.
I assume that today's sell-off heralded an imminent rally that will soon take us to new all-time highs. Because from a technical perspective, today we have only touched the 38.2% retracement of the upward movement between August 5 and August 22, 2024. Bearish doomsday scenarios look different.
We are now bullish in the medium term. We expect the NASDAQ to reach its next high of at least 21,500 points, and the 22,000 point mark is also a distinct possibility. We are placing the stop loss below a gap that is still open. The 50% retracement of the aforementioned upward movement is also located in this area.
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