Big7
UPDATE Nasdaq is on track to new All Time HighsCup and Handle formed on Nasdaq and since then the price has rocketed up.
We still have bullish confirmation of further upside.
7>21>200
RSI>50 (Higher lows)
Target remains at 16,073
One could even lock in half profits here and raise stop to above breakeven.
Fundamentals:
With the Big 7 outperforming this year, we are seeing the innovation of AI, Metaverse and machine learning attract new investors into the market. This will help push up the price bring on higher earnings and help the economy - which diminishes the likelihood of a recession.
The Big 7 are the major tech companies:
Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, and Meta.
And as they adapt, innovate and integrate AI into their business models, products and services, this will continue to bring investors into the market and
drive their prices up.
And this means the Nasdaq will continue to rally.
SMC
Sell Side Liquidity (Order Block)
Smart Money buys into positions (and sweeps liquidity) from traders who are long (get stopped) and for short traders who enter into their trades.
