Following a strong surge at the start of the trading week, the Nasdaq reached a new high since March 26th. At this juncture, I anticipate a potential pullback before any sustained upward movement. My analysis suggests monitoring for a retracement to the New Week Opening Gap (NWOG), where price action will likely provide critical insights. I see two probable scenarios:
1. A move to the NWOG, followed by a strong bounce, potentially targeting a new all-time high, as some market commentators have suggested.
2. A weak reaction at the NWOG, leading to a breakdown below this level, with 16,000 as the next key support target.
This week's price action will be pivotal in determining the Nasdaq's near-term direction. I recommend close observation of these levels and disciplined risk management when positioning for either outcome.
1. A move to the NWOG, followed by a strong bounce, potentially targeting a new all-time high, as some market commentators have suggested.
2. A weak reaction at the NWOG, leading to a breakdown below this level, with 16,000 as the next key support target.
This week's price action will be pivotal in determining the Nasdaq's near-term direction. I recommend close observation of these levels and disciplined risk management when positioning for either outcome.
Trade active
Nasdaq in huge weekly FVG right now, most likely this is destribution, most likely we will see good correction till NWOG within next few days, mb next week 
Almenio_WTF
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Almenio_WTF
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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.